LONDON — The long and winding road of Beatles history has taken a new twist. Cash-strapped music company EMI Group is reportedly seeking a buyer for Abbey Road, the London studio where the Fab Four recorded some of their most famous songs.
A source who spoke on condition of anonymity said Tuesday that private talks had been going on for several months but that a buyer had not yet been found.
A spokesman for EMI refused to comment on the sale bid, which could raise tens of millions of dollars for the struggling label.
Analysts said the sale price would be far short of the $165 million EMI needs to survive and would mean giving up one of its most high-profile assets, which is not just a recording studio but a shrine for Beatles fans.
“It’s like throwing sandbags off the crippled balloon,” said Adrian Drury of Ovum Securities. “It is not going to help its cash situation that much.”
EMI, whose artists include Coldplay and Robbie Williams, has struggled financially since its 2007 sale to Terra Firma Capital Partners. The Associated Press
