Abbey Road Taken Off The Market
EMI Records have taken Abbey Road Studios off the market.As Classic Rock reported last week, the label had plans to sell off the famous studio in an effort to raise funds. However this decision has now been reversed.
In a statement, EMI have said: “EMI welcomes the reported acceleration of English Heritage’s plans to list Abbey Road and supports such a listing as an appropriate way of protecting our world famous music heritage site. In response to recent press speculation, EMI confirms that it is holding preliminary discussions for the revitalisation of Abbey Road with interested and appropriate third parties.
“When Terra Firma acquired EMI in 2007, it made the preservation of Abbey Road a priority. Abbey Road studios had, for a number of years, been losing money and we have developed plans to revitalise the studios. These plans would involve a substantial injection of new capital.
“Since November 2009, EMI has held discussions with a number of parties with a view to them financing these plans and maintaining this unique venue. At all times, these plans have focussed on providing access to artists and, where possible members of the public.
“In mid-2009, we did receive an offer to buy Abbey Road for in excess of £30 million but this was rejected since we believe that Abbey Road should remain in EMI’s ownership”.
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