Pink Floyd infighting delays catalogue sale
The $500 million sale of Pink Floyd's music catalogue has been delayed due to "months of arguing" within the band.
The sale of Pink Floyd's music catalogue has been delayed due to "months of arguing" within the band.
The 'Money' hitmakers were said to have attracted interest from investors and companies including Blackstone, Sony Music and Warner Music, with bidding for the songs likely to fetch over $500 million, making it one of the biggest music rights deals ever, but the auction process - which began in May - has been hit by delays due to infighting over the tax structure of the deal.
One bidder said the strained relationship between Roger Waters and Dave Gilmour had "made it impossible" to reach an agreement, while another said they may never be able to close a deal, even if a buyer were chosen because the band "never need an excuse to disagree".
According to a report in FT.com, negotiating the deal has been "as difficult as it is possible to be" and bidders have taken to referring to the adviser handling the sale as a "mediator".
Interested parties had been told the process would restart soon after delays over how to make the deal tax efficient, and it was hoped an agreement could be reached in the coming weeks.
It is believed Roger's controversial comments this week - in which he claimed to be on a Ukrainian "kill list" and said Russia had tried to avoid an "unnecessary war" with Ukraine - have not helped matters, with Dave and Nick Mason previously releasing a new song to raise money for Ukrainian humanitarian relief.
According to Variety, at least one potential buyer may pull out as a result of the 79-year-old musician's comments, and they may also lower the value of the catalogue.
A source said: “The other bandmembers must be furious."
The singer claimed this week he was on a "kill list" supported by the Ukrainian government.
He said: "I’m on a kill list that is supported by the Ukrainian government. I’m on the f****** list, and they’ve killed people recently … But when they kill you, they write ‘liquidated’ across your picture. Well, I’m one of those f****** pictures."
Roger thinks Russia's President Vladimir Putin actually spent two decades trying to "avoid" a conflict with Ukraine but was ultimately "encouraged" to launch an invasion because of the attitude of the NATO countries.
The Pink Floyd co-founder told Rolling Stone magazine: "Russia should not have been encouraged to invade the Ukraine after they tried for 20 years to avoid it by suggesting diplomatic measures to Western governments."
