Russian businessman purchases recording studio of Beatles producer
AIR Studios was put up for sale in May 2018.
According to Financial Times, Russian businessman Maxim Demin has purchased a London-based AIR Studios recording studio set up by The Beatles producer George Martin.
AIR Studios was put up for sale in May 2018. Its owners, Richard Boote and Paul Woolfe explained their decision to sell AIR as a willingness to step away. “There’s someone out there who’s younger and who has got the tenacity that we had when we were 40,” Woolf said to Billboard magazine.
In an interview with FT, he confirmed the fact that the studio is sold. In his words, the buyer has committed to working with AIR as a recording studio.
According to FT, the deal was done for £10m (858 million rubles).
Sir George Martin founded the studio in 1969. It has been used by some of the most famous names in music with Paul McCartney, Adele, Coldplay, U2, Muse, George Michael, among the many artists to have recorded there. Martin sold the studio in 2006.
Russian financier Maxim Demin used to work for Tatneft oil and gas company. In the mid-2000s, he moved to London and started dealing with oil trading. In 2013, Demin became a 100 percent owner of Bournemouth FC.