Pink Floyd were reportedly ready to sell their full back catalog for a staggering price of £400 million in a bidding war, as reported by The Times. Private equity group Blackstone had been in conversations with the band but faces fierce competition from major labels Sony, Warner, and BMG, among others. The sale would mean that there would be a new owner of all Pink Floyd songs and master recordings, up until this year’s “Hey, Hey, Rise Up!”, which marked the band’s return to the studio. It seems that has been stalled.
Pink Floyd members can’t agree
According to the Financial Times, band members can’t agree on tax and asset distribution within the deal, which is causing “infighting” and delaying the sale.
The negotiation process is getting increasingly complicated due to Roger Waters living in the US while the remaining members are in the UK, plus his tense relationship with David Gilmour making an agreement “impossible”.
It has been reported that a possible buyer has claimed that Pink Floyd “never needed an excuse to disagree”, and even admitted to the fact that the band might never be able to close the deal due to their inner turmoil.
It is worth mentioning that Interested bidders have reportedly been calling “mediators” to try and handle the communication between the band members so that the sale can come to a conclusion.
It is believed that if the deal ends up happening, it might be one of the biggest sales ever in music history, together with Bruce Springsteen’s $550 million catalog deal from last year.