Pink Floyd Music Rights Sale Stalled By Feuding Band Members
The sale of copyrights of Pink Floyd has been halted. The English band had planned to sell the music rights for a sum of $500 million, but this would not go ahead for the time being due to feuding between band members, writes Financial Times (FT).
According to FT, there were already big names among the interested parties, including Blackstone, Sony Music, and Warner Music. Meanwhile, the sale has already been delayed for several months because of disagreements over tax arrangements, among other things.
Added to this is the fact that band member Roger Waters lives in the United States and the other band members in the United Kingdom. Moreover, Waters has had a difficult relationship with band member David Gilmour for many years. One bidder tells FT that that strained relationship makes it "impossible" to do a deal.
Another doubts it will ever be possible to reach a deal again since the band members constantly argue without cause.
In recent years, more major artists sold their music rights, such as Neil Young, Sting, and Bob Dylan. In doing so, they earned hundreds of millions of dollars.
Pink Floyd was formed in 1965. The band had its greatest success with the album Dark Side of the Moon, released in 1973. Songs such as Money and Another Brick in the Wall are among the band's biggest hits.