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Abbey Road Studios Are Not For Sale, EMI Says
February 22, 2010
Abbey Road studios are not for sale, despite reports last week that owner EMI was actively looking for buyers.
It had been suggested that the record label wanted to offload the property in St John's Wood, London to stave off mounting debts.
But in a statement at the weekend, EMI said it was looking for an investor, not a buyer for the recording studios.
The record label added that it had received an offer for Abbey Road in 2009 but believed it should stay in control of the building.
"In response to speculation, EMI confirms it is holding preliminary discussions for the revitalisation of Abbey Road with interested and appropriate third parties,” the statement said.
"Abbey Road studios had, for a number of years, been losing money. These plans would involve a substantial injection of new capital.
"In mid-2009, we received an offer to buy Abbey Road for in excess of £30million but this was rejected since we believe that Abbey Road should remain in EMI's ownership."
The reports last week prompted calls for the studios to be saved, with The National Trust expressing an interest in the building.
(by Jason Gregory)
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