EMI To Sell Abbey Road

After last week's reports that the infamous Abbey Road recording studio was up for sale, EMI have responded by issuing a statement saying that it is looking for investors to 'revitalize' the iconic studio, and said that they turned down a £30 million bid in 2009. English Heritage advised that the site should be listed in 2003 and according to reports it appears that the applicatioon is now to be fast-tracked by the Government.

The statement reads, '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 revitalization of Abbey Road with interested and appropriate third parties.' 

EMI reported an annual pre-tax loss of 1.5 billion pounds, with close to £100 million needed to save it from breaching its contract with Citigroup. 3 Abbey Road was bought for £100,000 in 1929 before being converted in to the world's first custom-built studio for it's opening in 1931.