EMI 'Not Selling' Abbey Road

Legendary studio Abbey Road is not set to be sold at auction, record label EMI have confirmed.

Abbey Road is one of the most iconic studios on the planet. The place where The Beatles crafted the bulk of their back catalogue, the Fab Four even named a 1969 album in its honour. Walking across a nearby pedestrian crossing for the front cover, the shot created a tourist industry which still thrives.

Having helped produce seminal albums by Pink Floyd, Blur, Radiohead and more the studio is established as one of the world's finest. However recent speculation had seen reports emerge stating that Abbey Road was to be sold as part of a debt-reduction enterprise by crash strapped label EMI.

Bought by American company Terra Firma in 2007, EMI is almost drowning under the weight of the debt used to acquire it. With job losses on the horizon once again, the label was rumoured to be cashing in on its assets at Abbey Road.

Sparking furious protests, the National Trust has enquired about making the studio a listed building with composer Andrew Lloyd Webber expressing an interest in buying the studio.

In response, EMI have issued a statement denying that Abbey Road is for sale.

"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."

"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."