EMI has withdrawn the sale of Abbey Road Studios in London.
After the cash-strapped company announced the sale of the iconic studio to raise some spare change, protests about the sale spread across the world.Paul McCartney, who recorded nearly all of The Beatles material at the famed studio, through his support behind the protest while Sir Andrew Lloyd Webber, who recorded everyone of his musicals from Jesus Christ Superstar up until his new one put his hand up to buy Abbey Road.
Calls have also been made to have the building heritage listed and that now looks like the outcome.
In a statement over the weekend, EMI said this:
"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 revitalisation of Abbey Road with interested and appropriate third parties.
When Terra Firma acquired EMI in 2007, it made the preservation of Abbey Road a priority. 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.
Since November 2009, EMI has held discussions with a number of parties with a view to them financing these plans and maintaining this unique venue. At all times, these plans have focussed on providing access to artists and, where possible members of the public.
In mid-2009, we did receive an offer to buy Abbey Road for in excess of £30 million but this was rejected since we believe that Abbey Road should remain in EMI's ownership".
