News

EMI Confirms Abbey Road Is Not Being Sold

8:35 a.m. · February 22, 2010 · by Nick Neyland

Paul McCartney recently talked about the proposed sale of Abbey Road, saying he hoped it would end up in good hands. But Sir Paul needn’t have worried, because the British institution isn’t up for sale after all. EMI has issued a statement saying the studio won’t be made available to potential new owners, and will stay under its ownership.

"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,” reads the statement. "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."

Furiously arranged Facebook campaigns were put together to rescue the space, and Andrew Lloyd Weber was even rumored to be a potential buyer. But now the studio can operate as normal, although whether any label will be able to continue to afford to record there remains a moot point.

[via NME]