Queen has reportedly agreed a Stg1 billion ($A1.9 billion) deal to sell its music catalogue to Sony Music.
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The Bohemian Rhapsody band, which still includes founding members Brian May and Roger Taylor, has been in talks with for years about a sale for their enviable catalogue of songs and albums, and now it s believed a deal is imminent.
As reported by Variety, the music catalogue and other rights is "in the process of being acquired" by Sony for the huge sum.
The deal is believed to be closed in the next few weeks, while Hits reports that the only revenue not included in the agreement is those earned by live performances.
Since the death of frontman Freddie Mercury aged 45 in 1991, John Deacon has stepped back from the limelight, while Brian and Roger still tour with singer Adam Lambert.
Queen's recorded music rights in the US and Canada were bought by Disney for an undisclosed price in the 2000s following an initial $US10 million licensing deal reached in 1991.
The House of Mouse will keep hold of those rights in perpetuity, although for certain band members, the remaining royalties from those will go to Sony when the deal is finalised.
The group's distribution deal with Universal will move to Sony in all territories outside the US and Canada, but not until that agreement expires in 2026 or 2027.
Earlier in 2024, it was suggested that Deacon - who has not taken part in any public work for the group since the Freddie Mercury Tribute Concert in 1992 following the frontman's death the previous year - will not include his share of the assets in a potential deal.
Classic tracks in the catalogue include Radio Gaga, We Are The Champions, We Will Rock You, Another One Bites The Dust, Crazy Little Thing Called Love and Somebody to Love, while the group released 15 studio albums, including 1995 s final LP Made in Heaven, which features recordings Mercury made before his death.
An agreement comes after a number of high-profile songwriting catalogues were sold in recent years, with the collections of Bruce Springsteen, Neil Young, Bob Dylan and David Bowie being acquired for hundreds of millions of dollars.
They have proven to be an attractive investment for labels, with the prospect of repeated royalties through usage in films and TV, as well as radio play or advertisements.
Australian Associated Press
