Sony Music’s landmark Queen catalog acquisition is getting closer and closer to becoming ‘official’.
According to reports over the past few weeks, Sony Music Group has agreed to acquire the catalog of the legendary rock band in a deal reportedly worth approximately GBP £1 billion (USD $1.27 billion at current exchange rates).
At the £1 billion price tag, the transaction will become the biggest artist catalog deal in music history.
Sony is understood to be buying the band’s global music publishing rights, their ‘name and likeness’ rights, plus their recorded music interests — including their recording copyrights outside of North America, where their masters are owned by Disney Music Group.
(Sony already administers Queen’s publishing rights, while the band’s recorded music is currently globally distributed via Universal Music Group.)
Plus, MBW’s sources told us earlier this month that noises are getting louder that Apollo Global Management is a co-investor in the deal.
Sony Music hasn’t confirmed the reports, but today (July 16) we can show you the clearest evidence yet that Sony Music is in the process of taking control of Queen’s assets.
According to filings publicly available on the UK’s Companies House, and reviewed by MBW, Queen’s surviving ‘Classic’ band members Brian May, Roger Taylor, and John Deacon are no longer Directors of Queen Productions Limited.
Queen Productions Limited is the UK-based company that owns the group’s recording catalog outside the US and Canada. It also collects the band’s turnover, including recording and sync royalties, and performance income.
Band members May, Taylor, and Deacon appear to have resigned as Directors of Queen Productions Limited as of June 26. The notices were published on Wednesday, July 10 (see below).
Neil Adleman, a lawyer whose bio says he works with clients including “the band Queen” amongst others, was previously a secretary of Queen Productions Limited. Adleman’s appointment was also terminated as of June 26.
Interestingly, on the same day (July 10) that the Director termination notices were filed, Queen Productions Limited’s registered office address was changed to 2 Canal Reach, which is Sony Music Entertainment‘s registered office address in London.
A new Director was also appointed for Queen Productions Limited as of June 26: Mr. Charles Henry Stanford. According to LinkedIn, Stanford is a Sony Music Executive.
Queen Productions Limited’s latest annual financials were published last month and showed the company’s fiscal performance in FY 2023 (to the end of September last year).
The company reported GBP £39.47 million in revenue for the fiscal year ended September 30, 2023. At the average exchange rate for 2023, that’s equal to USD $49.1 million.
In addition to terminating their Directorships of Queen Productions Limited, as of June 26, all three of Queen’s surviving “classic’ members are no longer Directors of Queen Music Limited, which owns the rights to Queen’s music publishing catalog, which is administered by Sony Music Publishing.
A new Director was appointed for Queen Music Ltd on June 26, however: Tim Major, the Co-Managing Director of Sony Music Publishing UK.
Queen Music Ltd.’s registered address has also been changed to the same address as Sony Music’s registered address in London.
Beyond Queen Productions Limited and Queen Music Limited, MBW has identified 16 other UK registered companies associated with either the surviving Queen members or the estate of Freddie Mercury that now count either Charles Stanford or Tim Major as Directors as of June 26. Those companies have also seen Queen’s members resign as Directors.
Other notable Director resignations at some of these companies include Mary Austin (Goose Productions), who inherited a large portion of Freddie Mercury’s fortune, and long-time Queen manager Jim Beach (Goose Productions and Mercury Songs).
The registered addresses for those UK-based entities have also all been changed to Sony Music’s registered office address in London: 2 Canal Reach.
Those companies include:
Bohemian Theatrical Productions Limited
We Will Rock You Limited
Queen Theatrical Productions Limited
Queen Touring Limited
Mercury Songs Demerged Holdco Limited
Nightjar Demerged Holdco Limited
Queen Online Limited
Duck Rockco Limited
Duck Demerged Holdco Ltd.
Raincloud Productions Limited
Queen Films Limited
We Will Rock You Films Ltd
Nightjar Rockco Limited
Mercury Songs Rockco Limited
Goldfinch Productions Limited
Goose Productions Limited
Queen’s catalog, including both publishing and recorded music rights, is jointly and equally owned by the band’s surviving ‘classic’ line-up (Brian May, Roger Taylor, John Deacon) plus the estate of Freddie Mercury.
Disney Music Group (via its ownership of Hollywood Records) owns Queen’s recorded music rights in North America; the band owns them everywhere else in the world. (DMG has a global distribution agreement with Universal Music Group.)
Hits reported last month that UMG, as Disney’s distributor, will retain distribution rights in North America, although Sony will receive the royalties.
UMG’s worldwide distribution rights will then transfer to Sony in 2026 or 2027, making Sony Music the sole distributor and owner of all Queen content globally.
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