12:29 PM EDT, 05/29/2024 (MT Newswires) -- (Updates with additional details in the third paragraph, attempts to reach Sony ( SONY ) and Queen for comment in fourth paragraph.)

Sony Group's ( SONY ) Sony Music is in talks to acquire Queen's music catalog in a deal that could potentially total $1 billion, Bloomberg reported Monday, citing unnamed people familiar with the matter.

Sony ( SONY ) is working with another investor on the deal, according to the report.

The talks also include merchandising and other business opportunities, but a deal isn't certain yet, Bloomberg reported, citing the people.

Sony ( SONY ) did not immediately reply to MT Newswires' request for comment. The band's production company, Queen Productions Ltd., could not be immediately reached 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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