Tuesday, Oct 1st, it was reported by UK’s Financial Times that Pink Floyd have sold their music catalog, along with their name and likeness to Sony for approximately $400 million. People Magazine Online reported that sources close to the matter told the outlet that ownership of the band’s likeness means the purchaser would profit from the sale of merchandise as well as other entities that could come along, such as television spin-offs and films.

Pink Floyd’s deal did come with stipulations, only their recorded rights were included, not any for the band’s songwriting. Before this week’s deal with Sony, the band tried for at least two years to sell their catalog, and had reportedly been in talks to do so with major companies such as Warner Music, BMG and Hipgnosis. The sale is one of the largest of many in recent years. We will keep you informed about any developments related to this topic, including upcoming catalog releases and new projects.