UPDATE: EMI Not Selling Abbey Road Studios After All

When word came out that EMI was looking to sell Abbey Road Studios, public outcry sparked a Facebook campaign to have the National Trust acquire the famed studio. EMI set the record straight on Sunday, when the company announced it would not actually be seeking buyers for the hallowed site. Instead, it’s looking to enlist third-party investors to help them “revitalize” the studios. According to the Wall Street Journal, EMI even turned down a $46.4 million offer for the studios last year.

“In response to recent press speculation, EMI confirms that it is holding preliminary discussions for the revitalization of Abbey Road with interested and appropriate third parties,” the label said in a statement. “Abbey Road studios had, for a number of years, been losing money and we have developed plans to revitalize the studios. These plans would involve a substantial injection of new capital.”

via Paste Magazine

Enjoy some pictures of the legendary studio and The Black Keys: Live From Abbey Road after the jump…

Previous Report:
You can’t put a price on history, but apparently EMI is going to try. The music giant has put the legendary Abbey Road studios up for sale, according to the Financial Times, apparently in an attempt to reduce their debts. Although perhaps the building itself isn’t all that valuable, relatively speaking (only a couple hundred million), it is the brand and history of the legendary studio that makes this this situation a bit of a bummer. In addition Beatles recording most of their music in the studio, Pink Floyd’s Dark Side of the Moon and several Radiohead albums were also recorded there.

The news has sparked a Twitter outrage, with Beatles fans begging Ringo Starr and Paul McCartney to step in and buy the historic site. EMI bought the North London landmark, a house at the time, in 1929, and converted it into custom recording studio. One of only a few studios that can accommodate an entire orchestra, Abbey Road has also been the site of recordings for movie franchises like Lord of the Rings and Harry Potter.

via Paste Magazine

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~ by cdowell4 on February 17, 2010.

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