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The fabled Abbey Road Studios may be getting sold by EMI parent Terra Firma, according to the Financial Times. The rumored sell-off is part of an increasingly distressed situation at EMI Group, one that now features a messy lawsuit between Terra Firma and Citigroup. The studio, if indeed sold, could fetch more than ten million pounds, just a fraction of the broader Terra debt.
Despite its fabled history, Abbey Road now represents another piece of overhead in a highly-leveraged mess. Instead of booking expensive studio time, lots of artists simply record on laptops at a fraction of the cost. Other less-famous studios may offer cheaper cost structures. "The brand is worth more than the building," one attorney told the Times. "What you have is a very expensive piece of heritage. If an artist goes to a label and asks to record at Abbey Road they will be met with maniacal laughter."
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