British rock band Pink Floyd has agreed to sell its music rights, including hit songs, to Japan's Sony Group for some $400 million, the Financial Times reported Tuesday.
The deal includes the band's name and portrait rights of its members, allowing Sony to sell related products and produce movies and television programs, according to the British newspaper.
Pink Floyd will continue to hold the rights to its songwriting while selling the rights to its recorded music to Sony.
Pink Floyd is known for hits such as "The Dark Side of the Moon" and "The Wall." In 2022, the group released a new song for the first time in 28 years to support Ukraine.
Sony has acquired the rights to the music catalogs of U.S. singer and songwriter Bob Dylan and U.S. rock singer Bruce Springsteen.
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