The music catalog of Queen along with other copyrights is in the process of being acquired by Sony Music for £1 billion (about $1.27 billion), sources confirmed to Variety.

The news was first reported by Hits. According to the report, the only revenue not covered by the deal is for live shows, which will be retained by founding members Brian May and Roger Taylor, who still tour with singer Adam Lambert.

The deal, worth about $1.27 billion, includes the rights to Queen’s music catalog for the United States and Canada, as well as a distribution deal outside the US and Canada, according to Variety.

Sony is buying the rights that belonged to Disney, while Queen’s distribution deal is currently handled by Universal and is set to expire in a few years so Sony will take the reins.

The deal does not include revenue from live performances, as founding members Brian May and Roger Taylor retain that part.

Queen’s catalog is one of the most treasured of the rock era — with classic hits, ‘Bohemian Rhapsody’, ‘Another One Bites the Dust’, ‘Radio Ga Ga’, ’39’, ‘Somebody to Love’, ‘You’ re My Best Friend’ and ‘We Are the Champions’. The songs are popular all over the world and extremely lucrative.

Queen was originally formed in London in 1970 by May and Taylor, who had previously played together in the band Smile. A year later Freddie Mercury joined on vocals and piano and the following year John Deacon on bass.