The entire Pink Floyd Back Catalogue is now being sold for a whopping sum, months after speculations of its sale came about online.
David Gilmour, the band's vocalist, reunited the iconic band earlier this year to drop their newest song in 28 years.
Considering their massive legacy in music, Pink Floyd's catalog is one prized possession for any huge labels out there in the industry; that is why several major companies are battling out to secure it.
Pink Floyd Back Catalogue For Sale
According to The Times, Pink Floyd's Back Catalogue is in sale for £400 million, which amounts to more than $4,700,00.
The whopping sum is warranted. Pink Floyd is one of the best-selling music artists of all time, which makes their discography and back catalog to have been prized that high.
In May, Bloomberg initially reported the sale, noting that the sale had already begun and talks with potential buyers were already in place.
At the time, reports indicated that the catalog sales would reach hundreds of millions, but it was only recently that the cost was detailed.
Based on the publication, several music companies are already vying for the chance to acquire the iconic Pink Floyd catalog.
Among the buyers are private equity company Blackstone Inc.
According to the Daily Mail UK, Blackstone owns a share in Hipgnosis Song Management, founded by Merck Mercuriadis, Elton John's ex-manager.
The company has reportedly purchased catalogs of Justin Timberlake and Nelly Furtado, among many other fleets of singers, for more than $340 million.
Aside from Blackstone Inc., other music companies like BMG Rights Management, Sony, and Warner were also in the running.
However, Financial Times pointed out that should Blackstone win the deal, they could "burnish" their credentials - making them a solid industry leader in music rights management.
READ ALSO: Phil Collins Shocking Confession: Genesis NOT a Pink Floyd Fan For This Reason
Ukraine Seige Led to David Gilmour, Pink Floyd Reunion
Last April, David Gilmour, and Pink Floyd reunited to produce a new song - which is their first new material for 28 years.
The band released "Hey, Hey, Rise Up," which featured Ukrainian volunteer soldier and singer Andriy Khlyvnyuk's World War I protest song, "The Red Viburnum In The Meadow."
Proceeds of the song have gone directly to the Ukrainian Humanitarian Relief.
Because of the disastrous Ukraine-Russia war, Gilmour's Ukrainian daughter-in-law was heavily affected, and so did her family, prompting the band to launch such an effort, and at the same time, because of the massive impact of the war on its citizens.
READ ALSO: Roger Waters 'This Is Not a Drill' Tour: Singer Explains Why He Warn Fans Every Show
