Well, if this isn't a sign of the times, I don't know what is.
EMI is selling the Abbey Road studios, which it established in 1929 and which the Beatles made famous in the 1960s. From the Financial Times:
It was not immediately clear whether EMI would sell the Abbey Road brand name along with the property, but one media lawyer said: “The brand is worth more than the building . . . anybody who wants the studios will want the brand.”MAYBE Paul McCartney saw the future coming. Or maybe all media is now run as if by shady rock 'n' roll managers:
EMI bought the house at number 3 Abbey Road for £100,000 in 1929 and transformed it into the world’s first custom-built recording studios.
In 1931, Sir Edward Elgar used studio one to record Land of Hope and Glory with the London Symphony Orchestra and by World War II Abbey Road was used for propaganda recordings for the British government and BBC radio broadcasts.
The Beatles put the studios on the map, using it for 90 per cent of their recordings between 1962 and 1969 and naming their final album Abbey Road. EMI used the studios for last year’s release of remastered Beatles albums.
Pink Floyd recorded Dark Side of the Moon at the studios, which have also been used by Radiohead, the Manic Street Preachers, Travis and Blur.
However, the studios have faced cheaper competition from recording facilities in other countries, and technological advances allowing artists to record using only a laptop computer have made it harder for labels to justify owning expensive recording infrastructure.
“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,” the media lawyer said.
Out of college, money spent
See no future, pay no rent
All the money's gone, nowhere to go
Any jobber got the sack
Monday morning, turning back
Yellow lorry slow, nowhere to go
But oh, that magic feeling, nowhere to go
Oh, that magic feeling
Nowhere to go
Nowhere to go