Thaindian News

London, Feb 22 (ANI): Music group EMI has released a statement saying that it has no plans to sell London’s Abbey Road studios.

The firm added that the studios, made famous by a Beatles album, should stay under its ownership.

EMI also said that it had turned down an offer for the historic building last year and was working with ‘third parties’ about funding a ‘revitalisation project’.

The statement by EMI has ended rumours that struggling firm was planning to sell Abbey Road to ease debts.

The speculation caused a stir, with Facebook campaigns trying to save it.

The National Trust said that it would look into buying the property and even composer Andrew Lloyd Webber expressed an interest in owning the studio.

However, EMI has said that it was looking for an investor in the site, based at 3 Abbey Road in St John’s Wood, but it was not looking for a buyer.

“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,” the Telegraph quoted the company as saying.

“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 company added. (ANI)