A source says that Universal Music Group is already discussing buying Queen’s music catalog with Disney Music Group.

According to CNN, the transaction will likely fetch more than $1 billion and will close within the next month.

But a Disney Music Group representative said that there are no plans to sell the catalog right now. If the purchase goes through, it might be a new high for the price paid for a music library.

The current record is the $500 million that Bruce Springsteen made from a catalog sale in 2021. The success of the 2018 biopic “Bohemian Rhapsody,” which chronicled the band’s history and included Mercury in a central role, definitely contributed to the high price.

Notably, the music albums of other artists like Justin Bieber, the estate of David Bowie, and Sting have also recently been sold.

Queen is a famous British rock band that got started in London in 1970. The band’s first lineup was made up of four skilled musicians: lead singer and pianist Freddie Mercury, guitarist and singer Brian May, bassist John Deacon, and drummer and singer Roger Taylor. Queen quickly became one of the best and most important bands in rock music history.