Another sign of the times for the recording industry. EMI, which is fighting to survive as a business, needs to find some cash. EMI posted an annual loss of $2.35 billion dollars. Liabilities exceed assets. And it looks like the debt holders are getting ready to shut EMI down.
EMI bought the house at number 3 Abbey Road in the early 1900s. The property became a recording studio. It was made famous when the Beatles recorded most of their work at Abbey Road between 1962 and 1969. Lots of great recordings were made at this iconic studio.