Queen's music catalog may fetch $1 billion in potential sale to Universal Music Group

According to a source familiar with the matter, Universal Music Group is reportedly in advanced discussions to acquire Queen's catalog from Disney Music Group. 

The sale, which is expected to close within a month, is anticipated to exceed $1 billion, according to CNN.

However, a spokesperson from Disney Music Group stated that they currently have no plans to sell the catalog. If the deal goes through, it could potentially set a new record for the highest amount paid for a music catalog. 

Bruce Springsteen's catalog sale in 2021 for approximately $500 million currently holds the record. The popularity of Queen's music, particularly boosted by the success of the 2018 film "Bohemian Rhapsody," which focused on the band's story and late frontman Freddie Mercury, likely contributes to the high valuation. 

Notably, other artists such as Justin Bieber, the estate of David Bowie, and Sting have also recently completed sales of their respective music catalogs.