EMI: Abbey Road Studios 'Not for Sale'

Troubled music giant EMI has said it is not selling the internationally famous Abbey Road recording studios in north west London despite recent reports. The announcement comes after a public outcry to save the studios -- made famous thanks to the Beatles (pictured) recording the majority of their albums there -- which had been mooted for sale to ease EMI's massive debts.

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.