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Ex-Beatle backs move to save Abbey Road.

Summary: Sir Paul McCartney has pledged his support after reports that record company owners EMI plan to sell the legendary recording studio.

Sir Paul McCartney has pledged his support to save Abbey Road Studios after reports that record company owners EMI plan to sell the property.

The studio was made famous by the Beatles' eponymous final album, Abbey Road. The band recorded 90 per cent of their music at the north London site, joining Pink Floyd, Blur and composer Sir Edward Elgar in a long line up of celebrated acts to record there.

In a TV interview, Sir Paul described Abbey Road as a "great studio". He said that "it would be lovely if somebody could get a thing together to save it."

EMI has made no comment on a potential sale, but Sir Paul said, "there are a few people who have been associated with the studio for a long time who were talking about mounting some bid to save it. I sympathise with them. I hope they can do something, it'd be great."

EMI originally bought Abbey Road Studios in 1929 for Au100,000, but now it's parent company Terra Firma reportedly wants to raise tens of millions of pounds on a sale.

The record company has been saddled with debts after Terra Firma's highly-leveraged 2007 takeover, posting a Au1.75 billion loss for the year to March 2009.

EMI chief executive Elio Leoni-Sceti is thought to be planning for more cuts, whilst investing in the growth of the group's digital operations.

The company has made attempts to protect the studio from increasing competition, with projects like Abbey Road Live, which offered fans a way to buy instant concert recordings at venues. Recent recording developments and cheaper overseas facilities have left the studio struggling to keep up with its competitors.

Independent Television News Limited 2010. All rights reserved.

Independent Television News Limited 2009. All rights reserved.

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Publication:Independent Television News Limited (ITN)
Date:Feb 24, 2010
Words:326
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