Annette Brown, Lifetime The story of June Carter Cash comes to life in the…
- Posted on Feb 22nd 2010 4:52AM by Julian Marszalek
A statement from EMI reads: "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.
"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."
The label also confirmed that it had last year rejected an offer of £30m after deciding that the studios should remain under EMI's ownership. It also welcomed English Heritage's plans to list the renowned studios.
As previously reported on Spinner, a vociferous public campaign to save the studios -- which have hosted recording sessions by Pink Floyd and Blur - - was topped off by composer Andrew Lloyd Webber who considered buying the studios to save them from oblivion.
EMI posted losses of £1.75bn loss for the year to March 2009 in accounts earlier this month.