06:51 AM EDT, 09/13/2024 (MT Newswires) -- Sony Group's ( SONY ) music business, Sony Music, is in advanced talks to acquire the rights to Pink Floyd's music for about $500 million, the Financial Times reported Friday, citing unnamed sources familiar with the matter.

Issues among the band members have hampered negotiations on Pink Floyd's music rights but two sources told FT that talks with Sony Music are advancing, though there is no guarantee that an agreement will be reached.

The Financial Times said Sony Music is also negotiating to acquire Queen's music rights for about $1 billion.

Sony Music did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 93.36, Change: -0.26, Percent Change: -0.28