×
You will be redirected back to your article in seconds

Pinewood inks Isle of Man pact

Studio to advise on film investments

LONDON — Pinewood Shepperton has signed a five-year pact with the Isle of Man Treasury to advise on film investments for the island’s £25 million ($40.3 million) fund.

The Pinewood board also approved plans for a 45,000 sq ft extension, including a new soundstage, at its Iver Heath facility 20 miles west of London, it announced Monday.

The Isle of Man service will be provided via Pinewood Film Advisors, a wholly owned subsidiary of the studio group. As part of the deal, the IOMT will buy 4.89 million shares in Pinewood from parent Goodweather Investment Management (a member of the 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.

More Film

  • US actor Donald Sutherland poses for

    Donald Sutherland Reflects in Lyon On A Life And Career Marked By Cinema

    In a loose and free-flowing on-stage interview held at the Lumière Festival this past Sunday, Donald Sutherland reflected on his decade-spanning career with a tone that mixed personal irreverence alongside genuine veneration for the art form that brought him this far. “I love filmmakers, I really do,” said the Canadian actor, who delighted the local [...]

  • Terry Back chairman ACF

    Veteran U.K. Media Investor Terry Back Joins ACF as Chairman

    CANNES — Veteran U.K. film industry investor Terry Back has joined ACF investment bank as chairman. ACF, headed by CEO Thomas Dey, has been at the forefront of the M&A activity around independent TV and film production outfits, mostly in the unscripted TV arena. ACF is in the midst of expanding its activities in the [...]

  • Joker

    Korea Box Office: 'Joker' Remains on Top, 'Gemini Man' Lands in Fourth

    Warner Bros.’ “Joker” remained on top of the South Korean box office in its second weekend. The American psychological thriller earned $5.71 million from 768,000 admissions between Friday and Sunday, for a total of $28.3 million from 3.85 million admissions after two weekends. It accounted for 46% of total weekend box office in the country. [...]

  • dolittle-DRD_Tsr1Sht_1011_RGB_4_rgb-1

    Robert Downey Jr. Embarks on Perilous Journey in First 'Dolittle' Trailer (Watch)

    Robert Downey Jr. is setting sail with some furry friends in the first trailer for “Dolittle,” Universal Pictures’ reimagining of the classic story about a man who could speak to animals. “We have no choice but to embark on this perilous journey,” he says. Set to a rendition of Louis Armstrong’s “What a Wonderful World,” [...]

  • Parasite

    Bong Joon Ho's 'Parasite' Posts Powerful Opening in North America

    Bong Joon-Ho’s dark comedy “Parasite,” which won the Palme d’Or at the Cannes Film Festival, has launched with a spectacular $376,264 at three U.S. theaters.  Neon opened “Parasite” at The Landmark and Arclight Hollywood in Los Angeles and at the IFC Center in New York, where it broke the opening record set by 2014’s “Boyhood.” Its per-screen average of [...]

  • Joker Movie

    'Joker' Dominates International Box Office With $124 Million

    “Joker” is showing impressive traction internationally with a second weekend of $123.7 million on 24,149 screens in 79 markets — a holdover decline of just 29%. Joaquin Phoenix’s psychological thriller has totaled $351.2 million outside North America after only 12 days in release. And with $192 million in domestic grosses, “Joker” has now topped $543 [...]

More From Our Brands

Access exclusive content