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Abbey Road Studios for Sale?

published  First Published: 16/02/2010
Article written by: News Editor: Nigel Brookson
EMI bought the property in the St John's Wood area for 100,000 pounds in 1929. The Beatles used it for most of their recording in the 1960s, including the 1969 album Abbey Road, which featured them walking over a pedestrian crossing outside the studios before they split up.
In 1969 the studios were renamed Abbey Road Studios.
Other artists who have used the studios include Pink Floyd, who recorded Dark Side of the Moon there, as well as Radiohead, the Manic Street Preachers, Travis and Blur.
Massive Debt Levels
EMI is seeking to raise cash as Terra Firma tries to avoid breaching agreements on 3.3 billion pounds of loans. Terra Firma bought EMI in 2007 for 4.2 billion, saddling the music business with more than 2.6 billion of debt. EMI lost 1.75bn last year and Terra Firma's high profile boss Guy Hands last week conceded the investment is now worthless.
Unlikely the building will remain a recording studio, perhaps the only positive outcome could be a rich musical celebrity paying the expected 30 million pounds and turning the building into a museum.
Sir Paul McCartney still lives in the St Johns Wood area, and then there's Sir Cliff Richard.
Emi announced on 20/02/2010, that the studios will not be for sale anymore, instead they will look for sponsors and revamp the icon.
Andrew Lloyd Webber, whose stage musicals include Cats and Phantom Of The Opera, "thinks it is vital that the studios are saved for the future of the music industry in the UK," the composer's spokesman told British news outlets.


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