Historic Stones Studio Sold
Olympic Studios look doomed after they\'re sold by EMI
Just days after EMI performed a public outrage inspired U-Turn on its decision to sell Abbey Road studios, it has instead sold off Olympic Studios and now that studio’s fate looks bleak.
As part of a money saving exercise, EMI is stripping its own assets and Olympic Studios has become a victim of that, selling for £3.5m to a businessman who will look at what to do with the south-west London real estate – one option is to turn it into a cinema.
Olympic Studios saw not only the Rolling Stones record some of their most iconic music there (they recorded Beggars Banquet, Let It Bleed and Sticky Fingers at the studio) but also housed Led Zeppelin for their first album and periodically after that until 1975.
And the studio was the recording home to superstars as recently as 2008 when U2 recorded part of their No Line On The Horizon album there.
The Telegraph reports that EMI recorded a loss of £1.75 billion in 2009, including a £1.04b write down.