hehehe...the ship is sinking...Time to go solo boys! Like Radiohead...

I don't want Coldplay to go on strike! :bigcry:

The graffiti-covered street sign at Abbey Road shows just what a place of pilgrimmage it has become to music fans.

 

Beatles' Abbey Road Studios for Sale to Cut EMI Debt

 

The iconic London studios where artists including The Beatles, Pink Floyd, Blur and Radiohead created some of their most famous music is up for sale. Abbey Road Studios are to be put up for sale by cashed-strapped music group EMI.

 

Coldplay performed at the world famous Abbey Road Studios in London at a show that was recorded for BBC Radio 2 in 2006. The gig was watched by Glastonbury boss Michael Eavis, who Martin namechecked from the stage, describing him as a “God”, as well as Jamie Cullum and rapper Kanye West. West, who was in the same studio working on new material, watched the last half of the show from the back of the room, and grinned when Martin noticed him. However, the Coldplay singer was left embarrassed after his organ broke during final song ‘Fix You’.

 

What's more, Abbey Road studios were threatened with prosecution over the same Coldplay gig it hosted for the BBC. The recording studio was threatened with prosecution four years ago under new licensing laws because it hosted an "illegal" gig organised by the broadcasting corporation. Lawyers from Westminster Council claimed the Coldplay concert, which was aired on Radio 2 in April 2006, was the first live music event to break the law since it came into force in November 2005. Westminster sought legal advice when a former adviser on the Licensing Act, discovered that Abbey Road doesn't have a licence for live entertainment despite assurances to the BBC that it had fulfilled all its legal requirements.

 

The sale of the famous studios, located in St John's Wood, London, could raise tens of millions of pounds for Terra Firma, the investment company which bought EMI in 2007. There has been no official announcement of the sale, but FT.com reports that EMI has been 'courting bidders' for the property. Bought by EMI in 1929 for £100,000, the building at number 3, Abbey Road was turned into the world's first custom-built recording studios and has been the site of some of the most acclaimed music of the 20th century.

 

Sir Edward Elgar recorded Land Of Hope And Glory there, and during the Second World War it was used for propaganda recordings and BBC radio broadcasts. It was arguably The Beatles that made the studios world famous by recording almost all of their albums there.

 

A little-known fact is that The Beatles album Abbey Road is actually named after the street, while the studio was later re-named after the band split up. Later, Pink Floyd recorded Dark Side of the Moon there, and other acts to record there include Oasis Radiohead, Blur, Red Hot Chili Peppers and Manic Street Preachers. The studios are a major tourist attraction, with thousands of music fans coming from all over the world to visit the site, take pictures on the famous crossing and recreate the classis Abbey Road album cover.

 

But with cheaper recording facilities abroad and technology making it possible for recordings to be done on a laptop, studios like Abbey Road are becoming things of the past. One thing in Abbey Road's favour is that it can accommodate an entire orchestra, which has made it popular for recording film scores such as The Lord of the Rings and Harry Potter and the Philosopher’s Stone. It's not clear whether the Abbey Road brand, which is almost certainly worth more than the actual property, will be up for sale as well.

 

"The brand is worth more than the building... anybody who wants the studios will want the brand," said a media lawyer. "What you have is a very, 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," he added.

:bigcry:

What? :wtf: :stunned:

:thinking: Doesn't this mean the album will take even longer to produce?

 

AW, GOD-DA:censored:

Please, Abbey Road, please please please go to someone good :bigcry:

I really need to record there one day.

 

Abbey Road studios 'not for sale', says Coldplay label, EMI

 

Music group EMI has said it is not considering selling London's Abbey Road studios, according to various media outlets today. EMI released a statement saying the studios, made famous by a Beatles album, should stay under its ownership. EMI, which counts Robbie Williams and Coldplay among its artists, posted a £1.75bn loss for the year to March 2009 in accounts earlier this month.

 

EMI had been courting bidders for the property in St John's Wood, which it bought in 1929 for £100,000 and turned into one of the world's first custom-built recording studios, but have gone back on the decision. A sale could have raised tens of millions of pounds for the music group, which is looking to reduce the burden of debt following the 2007 buy-out by Terra Firma.

 

The firm added it had rejected a offer for the historic building last year and was working with "third parties" about funding a "revitalisation project" instead. It ends days of speculation after it was reported that struggling EMI would sell Abbey Road to ease debts. The reports led to Facebook campaigns to try to save it, the National Trust said it would look into buying the property and even composer Andrew Lloyd Webber expressed an interest in owning the studio.

 

However, on Sunday EMI said that while it was looking for an investor in the site, based at 3 Abbey Road in St John's Wood, it was not looking for a buyer. "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," the company said. "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."

 

The company said it also welcomed reports that English Heritage was accelerating plans to list the site, and said it had been holding discussions over the regeneration plans since November. It added: "In mid-2009, we did receive an offer to buy Abbey Road for in excess of £30m but this was rejected since we believe that Abbey Road should remain in EMI's ownership."

 

The Beatles used Abbey Road for 90% of their recordings, naming an album after the studios in 1969. EMI bought the property for £100,000 in 1929, transforming it into the world-famous studios that have hosted artists as diverse as composer Sir Edward Elgar in 1931, to Pink Floyd and Blur.

 

Back in 2006, Abbey Road studios were threatened with prosecution over a Coldplay gig it hosted for the BBC. The recording studio was threatened with prosecution four years ago under new licensing laws because it hosted an "illegal" gig organised by the broadcasting corporation. Lawyers from Westminster Council claimed the Coldplay concert, which was aired on Radio 2 in April 2006, was the first live music event to break the law since it came into force in November 2005.

 

http://www.coldplaying.com/index.php?name=News&file=article&sid=7003

 

Will EMI be around to see Coldplay's next album release?

 

The good news: Coldplay's back in the studio working on their fifth album with producer Brian Eno, reportedly slated for release by the end of the year. The bad news: The group's record label, EMI Music, may not be around to see its latest recording take flight.

 

It's not easy keeping a major record label afloat these days. No one knows better than Guy Hands, who controls private equity firm Terra Firma Capital Partners, EMI's owner. Despite boasting heavy hitters Coldplay and Norah Jones -- not to mention the Beatles catalog -- EMI last month reported a loss of 1.5 billion-pounds, or $2.4 billion, and continues to drown in debt. It's like watching the Titanic go down...

 

With Warner Music Group wrapping up 2009 with $339 million in cash and debt of a mere $1.94 billion, CEO Edgar Bronfman Jr. appears to have an extra lifeboat. We're just not sure whether he's Leo DiCaprio or Billy Zane. MG reported a 3% increase in revenue for the first quarter of 2010, to $918 million, with a net loss of $17 million, or $0.11 per share. That compares to a year-ago profit of $23 million, but that number was inflated by a one-time infusion when the company sold its stake in Front Line Management.

 

For EMI, the story is very different. Music industry chatter is buzzing that the label may soon put the legendary Abbey Road Studios -- home to many a Fab Four recording in the late '60s -- on the block. Everyone, including the equally legendary Sir George Martin, is chiming in, but the future of the studio looks pretty bleak to us. And EMI hopes to amputate other limbs as well. he demise of the record label hierarchy is not new. Greed, regulatory mayhem, and technology have all but bludgeoned the old guard. And then there's the little problem of all those music lovers who simply don't see the point of a middleman -- especially a large, monolithic, angry middleman -- squatting between them and their music. None other than American Idol creator Simon Fuller (not to be confused with Simon Cowell) recently exited his own 19 Entertainment and CKX to launch a venture that will more closely connect artists to their fans.

 

But even among its major-label brethren -- Vivendi-owned Universal Music Group, Sony Music Entertainment, and Warner -- EMI is particularly waterlogged, with its share of music industry sales teetering at 10%. Toss in a high-profile, ongoing dispute with its lender, Citigroup, and you're singing a pretty bleak tune, indeed. It also doesn't help to have one of your budding acts unceremoniously dissing your tight-fisted policy against video-embedding in public, as EMI rockers OK Go are OK-going about at the moment.

 

So what would you do, if you were Bronfman? He's reignited the rumor mill by noting that the regulatory climate shouldn't present any obstacles to a possible takeover. Then, during Warner's first-quarter earnings call, he said that consolidation is "certainly possible." He's been dancing around this merger for a few years, but this may be his last shot. If you were Bronfman, would you stay or would you go?

 

http://www.fool.com/investing/general/2010/03/05/emis-bittersweet-symphony.aspx

Charles Allen

 

Charles Allen to head EMI Music

 

LONDON -- EMI Group's revolving doors continue to spin with news that Elio Leoni-Sceti -- the CEO in charge of its record labels -- is exiting the company after just 18 months at the helm.

 

The surprise announcement shocked industry observers in London as the likeable Italian has been credited with markedly improving the profitability of the recorded music side of the business, but in a statement he claimed "my job here is now done." The major has appointed Charles Allen as its executive chairman to assume command of the EMI Music division.

 

Allen has been non-executive chairman of EMI Music since January 2009, chairing its board and supporting Leoni-Sceti's transformation of the business. His career prior to EMI includes a spell as executive chairman of broadcaster Granada from 2001-04 and then chief executive of commercial net ITV in 2004-07. Allen is also a non-executive director on a number of boards and an adviser to Goldman Sachs.

 

Leoni-Sceti will leave EMI Music on March 31. He took on the position of chief executive in September 2008 when he joined the company from consumer products giant Reckitt Benckiser, which manufactures detergent, hair remover and dishwasher tablets.

 

Leoni-Sceti was recently charged with formulating a new business plan for debt-wracked EMI, which is facing a multimillion-dollar payment on its purchase-related bank note in June.

 

In December, Terra Firma Investments, which bought EMI in 2007, sued Citigroup, alleging misrepresentations by the lender that led to the equity firm's payment of a "fraudulently inflated price" of £4 billion ($6 billion) for the music company (Daily Variety, Dec. 14).

 

In a statement Leoni-Sceti said: "It has been a pleasure to work with Charles and so many other talented and committed people. I look forward to seeing the company go on to further success in the future."

 

In EMI's statement announcing the senior management changes, Allen said: "Our goals for EMI Music remain the same. I will support and guide the group's strong team, keep EMI's focus on creativity and superb A&R, and deliver a digital platform. This is a great business -- our task is to ensure it has a great future."

 

News of Leoni-Sceti's exit came on the heels of more bad news for the company: According to the Associated Press, a lawsuit was filed against EMI on Tuesday in a London court by Pink Floyd, whose late '60s and early '70s catalog is controlled by the company.

 

The bestselling band alleged that EMI violated its contract with the group by selling its music digitally in a form "otherwise than in the original configuration of the Pink Floyd albums" -- that is, as individual songs rather than as cohesive works. The group's "The Dark Side of the Moon" still holds the record for the longest stay on the U.S. album chart, with 741 weeks logged.

 

http://www.variety.com

Uh-Oh.

Fatneck.

rofl ^

 

This is getting dirtier...

 

And not in the fun meaning of the word. :<

Yeah, their time is ticking away, I'm afraid. And it's not going to end pretty... Kind of ironic that they'd probably be the most financially sound of the big labels if they didn't have that debt to worry about.

 

They just "amicably" let Ok Go er...go and start their own label, even though the band had been profitable. Probably all the embarrassment in the press over videos didn't help.

 

Since this seems to be the main EMI news thread now, and it's safe to say that Coldplay isn't on strike, perhaps I should change the thread name?

Yes a name change for thread would be good.

feel free! :)

I suggest "GENERAL EMI DRAMA THREAD"

 

KKR and Warner Music talk over break-up bid for EMI

 

Private equity firm KKR is reported to have held early stage discussions with Warner Music about a break-up bid for EMI.

 

EMI, which is owned by Terra Firma, the private equity group controlled by financier Guy Hands, could be put up for sale this summer.

 

Warner, which has long coveted EMI's recorded music division, and KKR, which is interested in the music publishing business, are understood to have met in recent weeks to discuss how they might structure a bid. However, no approach is thought to have been made and talks remain at an early stage.

 

EMI, home to artists including Robbie Williams, Coldplay and Katy Perry, is under pressure to come up with a rescue plan over the next few weeks that will persuade investors to back a £120m refinancing to stop the company being taken over by Citigroup, its lending bank.

 

Sources believe Citigroup would be quick to put the company up for sale if it seizes control.

 

Any deal to buy EMI would likely not take place before the music company's stand-off with Citigroup is settled. EMI needs to find the £120m of new investment by mid-June to avoid a covenant breach on its £3.2bn of debt. In a further twist, Terra Firma has launched a lawsuit against Citigroup alleging it was mislead over the acquisition of EMI in 2007.

 

EMI's music publishing arm is thought to be worth about £1.2bn, although its music recording business is more difficult to value given the departure of big name artists including the Rolling Stones and Radiohead. The recorded music division was responsible for 55pc of EMI's £293m of profits last year.

 

Both divisions are putting together five-year business plans that will include future trading and profit projections. Terra Firma needs the backing of 150 of its 200 investors, who have already seen their investments in the music company all but wiped out.

 

The company was hit last week by the departure of music boss Elio Leoni-Sceti. Charles Allen, the former ITV boss and currently non-executive chairman, will step up to an executive role following Mr Leoni-Sceti's departure.

 

Warner has coveted EMI's recorded music business for the last decade but a previous proposal for a tie-up was blocked by competition authorities. It is understood that Warner believes a deal would be given the green light by anti-trust authorities this time around.

 

KKR and EMI declined to comment.

 

http://www.telegraph.co.uk

:huh:

 

It won't let me change the thread title- only the post title. What's going on?

:huh:

 

It won't let me change the thread title- only the post title. What's going on?

Did you go to "advanced"? It should be possible to change the title there. :thinking:

When you change the post title of the first post it'll automatically change the thread title.

^Yes, and yes it should. I've changed thread titles many times before. But it didn't work this time- it treated the first post like a regular post.

 

...and it's adding an edited time stamp to the post, so something has definitely changed. (But not adding it to this edited post. :wtf:)

Oh yes, I see it now... I'm sorry!

Maybe it's like that because Ian changed the title before? :shrug:

So he has to do it... I'll write a PM later anyways, I'll ask him to change this title as well then!

 

The latest piece of news in EMI's much-publicized struggle against corporate takeover is perhaps the most ominous development yet.

 

According to various sources, EMI is currently in talks to license its back catalogue to competing labels. This means that the rights to artists such as the Beatles, Pink Floyd, Queen and Coldplay could soon belong to another record company. In other words, this is like that point near to the end of a Monopoly game when you start mortgaging all of your properties to keep from going bankrupt. (And as we all know, that never works.)

 

As the Wall Street Journal reports, EMI believes that such a deal could fetch the label as much as $150 million per year. This could be enough to keep the label afloat, at least for the time being. The company is currently in danger of being taken over by Citigroup, who lent Terra Firma (EMI's parent group) the money to buy the label back in 2007.

 

According to UK newspaper the Times, talks began with Universal a few weeks ago, while Sony and Warner more recently joined the discussions.

 

Even if these talks are successful and EMI manages to stave off the repo men for another few months, the label will need to turn its luck around to survive in the long run. Billboard reports that Terra Firma's is currently in debt for nearly $4 billion.

 

http://www.exclaim.ca

In other words, this is like that point near to the end of a Monopoly game when you start mortgaging all of your properties to keep from going bankrupt. (And as we all know, that never works.)[/color][/b]

 

:laugh3:

 

After reading this comment, I'm having fond memories of obliterating fellow Monopoly competitors during my childhood...

I was ruthless.

so does that mean they're trying to get rid of Boardwalk? :charming:

or maybe more like Pennsylvania Ave. :P