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‘Nightmares’ preps production

$15 mil horror skein to shoot in Oz, will air on TNT

SYDNEY — Coot-Hayes Prods. will shoot horror skein “Nightmares and Dreamscapes: From the Stories of Stephen King” at Melbourne’s Central City Studios, the first U.S. production company to use Victoria’s extended tax incentives.

The program offers a cash rebate of 9%-12.5% on productions over $A15 million ($11.3 million), 70% of which must be spent within Oz.

“Nightmares” is a $15 million production and is expected to spend its full budget at the studio or on location in Victoria. Coote-Hayes, formed after a management buyout of Village Roadshow’s TV division, has already shot TV programs “Salem’s Lot,” “On the Beach” and “Evil Never Dies” at Central City.

“Nightmares” will show on cabler TNT. Victoria Premier Steve Bracks will be breathing a sigh of relief as the King frightener is the latest in a slew of productions to head to Melbourne including pics “Ghost Rider” and “Charlotte’s Web.”

Decision to open a new Aussie studio at a time when offshore productions were slowing was met with skepticism. But teamed with the new tax incentives, the venture is proving a success.

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