A consortium of business partners led by real estate billionaire Arthur G Cohen, Adi Cohen and Joseph Grinkorn of Killer Films owners GC Venture Capital Fund's, Baldwin Entertainment's Howard and Karen Baldwin and City Lights Media are launching the East Coast studio United Studios Of America.

The group is expected to invest hundreds of millions of dollars in the venture and the partners are scouting for a 500-acre lot in New York, Connecticut, Rhode Island, Massachusetts and other Eastern States offering tax breaks.

A Searle Field has been named chief executive of the new development, which it is understood will feature cutting edge energy and environmental design and encompass upscale hotel, resort and residential plots in the surrounding vicinity.

The group's steering committee is already in talks with officials from the aforementioned States and sources said production at the films and television studios was projected to get underway as early as February.