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Studio deal on hold

Bulgarian studio sale hits new snag

MUNICH – Nu Image’s protracted battle to buy state-owned Boyana Film Studios in Bulgaria has hit a new snag.

Nu Image Bulgaria topper David Varod inked a deal with the Bulgarian government for a 95% stake in the studio in January. Now Nu Image say the final transfer of assets has been delayed.

According to the Sofia News Agency, the government org in charge of the sale and the Boyana Film executive director are refusing to sign a deed for the mortgaging of the studio, as was agreed in the contract. Both had been asked to sign March 9.

Nu Image’s impatience is growing as the company is planning to shoot Morgan Freeman starrer “The Code” in Boyana this summer. Pic will involve extensive building work as Varod intends to build a contemporary Manhattan street crossing on the lot.

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