Pinewood announces shiny new studio development
Pinewood Studios today (29 April) announced news of a joint venture with River’s Rock llc, an independently managed trust of the Cathy family, to build a new studio.
The initial aim of Pinewood Atlanta as the venture is called, is to develop nearly three hundred acres of land south of Atlanta, Georgia into a studio facility for film, TV, music and video game production, with building to start imminently.
Operating under the Pinewood trademark, the studio will offer producers the benefit of attractive financial perks from within the state of Georgia. Combined with a good local crew base, the new studio aims to attract US productions.
In terms of financing the project, equity from River’s Rock and a debt facility from Synovus Bank will fund all construction costs. Pinewood, which holds 40% of the shares, will supply all sales and marketing services.
CEO of Pinewood Ian Dunleavy said: “Today’s agreement is another step forward for the Pinewood brand internationally. With River’s Rock we have a well resourced partner that is committed to building a first class studio facility.”
Jim Pace, Managing Partner, River’s Rock llc said: “We are tremendously excited to be creating a world class studio in the state of Georgia and are looking forward to working with Pinewood in the many years to come. The Pinewood brand is so well recognized in the global film industry and together there is a great opportunity to build an excellent facility that will attract the very best producers.”