Sony Music is in advanced talks to buy Pink Floyd’s music for up to $500 million after an earlier effort to auction one of the most coveted back catalogues in the industry was abandoned.

A 2022 attempt to sell the archive, which includes 1973’s Dark Side of the Moon, one of the bestselling records of all time, and albums dating back to the 1960s, broke down amid personal disagreements between surviving members of the famously fractious group.

The auction attracted interest from music companies and investors, including Warner Music and BMG, the rival record labels, and Hipgnosis, the music rights group, but was said to have been derailed by a feud between Roger Waters, 81, the bass player, and Dave Gilmour, 78, the guitarist. Talks have been revived since then, according to the Financial Times, with the two sides now nearing a deal.

Sony Music has been one of the more acquisitive record labels in securing the rights to classic rock artists, whose music generates income via streaming platforms such as Spotify and can be sold for use in film and television soundtracks and advertisements. This year Sony bought a 50 per cent stake in Michael Jackson’s music catalogue for at least $600 million. Bob Dylan sold his recordings to Sony in 2022, while a year earlier Eldridge, the vehicle of Todd Boehly, the American billionaire co-owner of Chelsea FC, backed its purchase of Bruce Springsteen’s entire discography.

It is also reported to have acquired the back catalogue of Queen at a rumoured £1 billion. Apollo, the private equity group, invested $700 million to assist Sony with funding further music acquisitions in July.

Analysts have warned that the market may have cooled in recent months as higher interest rates weigh on returns. Hipgnosis Songs Fund, which spent more than $2 billion on song assets by Neil Young, the Red Hot Chili Peppers and many others, struggled to recoup its investments and was acquired by Blackstone, the investment group, this year.

Representatives for Pink Floyd refused to comment. Sony did not respond to requests for comment.