Studio to advise on film investments
Peel Group) for £12.23 million ($19.76 million). PFA will receive an annual management fee and fees on each project that the IOMT invests in, as well as a proportion of revenues from U.K. distribution rights. It will also collect a proportion of future revenues from the 97 titles previously funded by the IOMT. The pact must be approved by Blighty’s Financial Services Authority, which is expected in the next few weeks. “The agreement is a further example of extending the reach of the Pinewood brand and builds on the company’s Pinewood Films initiative to play a bigger role in U.K. independent film and television production,” said Pinewood Shepperton CEO Ivan Dunleavy. Meanwhile, the Pinewood Shepperton extension comes after its plans for Project Pinewood, which would have doubled the size of the facility, were turned down last year by the government. Its more modest proposal is expected to be submitted in November. Pinewood Films recently announced its investment in Amma Asante’s “Belle,” currently shooting at the studio.
Want Entertainment News First? Sign up for Variety Alerts and Newsletters!