As reported by Variety, BMG’s recent decision to end its relationship with Pink Floyd co-founder Roger Waters has sparked concerns about how this might affect the sale of the band’s $500 million back catalog.
This move comes in the wake of Waters’ increasingly controversial political statements. Waters, known for his strong views on Israel, Ukraine, and the United States, has attracted criticism and controversy. BMG had entered into a publishing agreement with Waters in 2016.
Plans for a newly recorded version of Pink Floyd’s 1973 album ‘Dark Side of the Moon’ were scrapped last year by BMG’s new CEO Thomas Coesfeld. The album was later released through Cooking Vinyl in the UK. Sources informed Variety that BMG is preparing to sever all ties with the musician, although the company declined to comment on the matter.
Impact On Pink Floyd’s Lucrative Catalog Sale
Waters’ tenure with Pink Floyd is surely a major part of rock history. However, his recent political statements, perceived by some as veering into antisemitism, have sparked widespread criticism. Last year, Waters even addressed the United Nations Security Council at Russia’s invitation, making controversial comments about the 2022 invasion of Ukraine. Despite the backlash, Waters has remained unapologetic, often repeating these views during his tours and denying any antisemitism.
These actions have not only caused friction with his former bandmates but also seem to have impacted potential deals for Pink Floyd’s music catalog. The catalog, reportedly on the market for a staggering $500 million, has seen interest from several major buyers. Unfortunately, the controversies surrounding Waters appear to have deterred these suitors.
Pink Floyd’s Half-Billion-Dollar Back Catalog Sale In Jeopardy
In August 2022, the Financial Times reported that Pink Floyd’s entire back catalog was set to sell for over $500 million. Companies like Blackstone, Sony, Warner, BMG, and Primary Wave showed interest in the band’s copyrights, which include songs and master recordings.
However, the ongoing conflict between Roger Waters and David Gilmour, as reported in March 2023 by Variety, had cast a shadow over the potential deal. Sources close to the situation revealed that the feud and disagreements among band members and estates were significantly affecting the sale process.
There is no official statement regarding the completion or termination of the Pink Floyd catalog sale as of now. The potential impact of Waters’ separation from BMG on this high-profile deal remains a topic of speculation and interest within the music industry.
