The ShadowMusic Web Community

no peter

Just too bad it's not in my price range...

Didier

To answer your question,Bernard, - NO.
Des.

Maybe if we all put something in the pot.....

John M wrote:Maybe if we all put something in the pot.....

EMI would not comment but five people familiar with the situation told the Financial Times it had been courting bidders for the property in St John’s Wood. A sale could raise tens of millions of pounds.

Didier

Well, in that case, we'd need a really, really, really LARGE pot.

EMI is owned by a private equity group, Terra Firma - whose business model has been to buy businesses where they see an opportunity to 'extract value' . Basically that means that they buy a business (such as a Utility company) using significant levels of bank finance - and then take as much 'cost' (ie people) out of the business or sell assets - before selling the new 'lean' company on at a huge profit, paying off their bank loans in the process. That's the theory anyway - but the general consensus is that Terra Firma paid too much for EMI - which is itself in a declining or at least a changing industry - so they're obviously keen to realise any proceeds from the sale of assets - hence the sale of Abbey Road.

In a sense, it doesn't really matter who owns Abbey Road now - because there would be no sentimentality from the current owners of EMI. We can only hope that any new owners respect its very rich heritage - and don't turn it into some tacky tourist attraction (or worse)

Bernie

sob!

If that was in Australia the powers that be would have put a 'Heritage Act' hold on Abbey Rd by now - wouldn't matter who owns it but they couldn't do anything to it anyway.........