EMI puts Abbey Road under the silver hammer?
Can't carry that financial weight no longer
EMI has reportedly put its iconic Abbey Road recording studio up for sale in an effort to pay off some of its hefty debts.
According to this morning's Financial Times, which cites no less than "five people familiar with the situation", the struggling major is seeking bidders to buy the studio.
However, the report was unable to confirm whether EMI intended to flog both the brand and the St Johns Wood, London-based property.
The studio was made famous by The Beatles, who recorded much of their music there, including the Fab Four's final studio album, Abbey Road, in 1969.
In more recent years the studio was besieged by Britpop bands such as Radiohead, Manic Street Preachers, Travis and Blur, who each wanted to create their own bit of Abbey Road magic at the famous recording house.
Terra Firma-owned EMI, which is currently saddled with a debt load of £1.75bn, declined to comment to the newspaper about any possible sale.
The record giant bought number 3 Abbey Road in 1929 for £100,000. A sale could pull in tens of millions of pounds, according to the FT. ®