Tuesday, February 16, 2010

For Sale by heartless corporation: number 3 Abbey Road

According to a number of sources EMI’s parent company, Terra Firma is trying to sell Abbey Road Studios in an attempt to stave off the wolves at Citibank. Sadly the studio is only expected to bring in something like tens of millions of dollars when the amount necessary to stop the $3 billion dollar loan from going into default is over $190 million dollars. If that's the case it's a bit like throwing the deck chairs off of the Titanic thinking that it will stop it from sinking. Also sad is the fact that many feel the “brand” of Abbey Road is worth more than the facility itself.

Abbey Road of course is most famous for having been the studio of choice for the majority of Beatles recording sessions and many early to middle period Pink Floyd recordings, though not “Dark Side of the Moon” as many sources are erroneously claiming. According to some sources EMI doesn't consider a recording studio an essential asset. That's not a joke by the way the music industry has lost it's way so badly it doesn't even see the value in owning a first class facility in which to record music. In this day and age a lot of music can be recorded using a computer and pro tools, many consider anything over and above that to be a luxury.

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