EMI is changing its tune after several reports surfaced that it was planning to sell Abbey Road Studios. The most famous studios in the world have welcomed the Beatles, who recorded almost every album there, and other big names like Pink Floyd, Radiohead, Blur and Oasis.
EMI does not deny the fact that the studios have suffered financial losses over the past years.
A company press release states, "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."
EMI is looking for a business partner to invest in the project.
After rumours of the sale began circulating, famous English composer Andrew Lloyd Weber announced he might purchase the studios. The National Trust charity also indicated it might step in to protect the site.
"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," the company said in its statement.
EMI also announced that it refused an offer of 30 million pounds (about $50 million CDN) to buy the studios just last year.