01:49 PM EDT, 10/01/2024 (MT Newswires) -- Sony Group's ( SONY ) music label will purchase the rights to Pink Floyd's music for $400 million, the Financial Times reported Tuesday, citing two people familiar with the matter.

The deal covers Pink Floyd's recorded music, the band name, and the artists' "likeness," one person reportedly said.

The band agreed to sell the rights to recorded music but not the songwriting, the report added.

Sony ( SONY ) 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.)

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