Pinewood-Shepperton pacts for new US studio in Atlanta.
UK studio group Pinewood-Shepperton is building its first film and TV studio in the US.
Pinewood Atlanta, a joint venture with River’s Rock llc, an independently managed trust of the Cathy family, is situated south of Atlanta and will allow producers to tap into Georgia’s state fiscal incentives.
The land and studio construction costs will be funded by equity from River’s Rock and a debt facility from Synovus Bank. The business will operate under the Pinewood trademark and Pinewood has received 40% of the shareholding in the joint venture. Pinewood will provide the joint venture with sales and marketing services.
Construction is due to get underway imminently.
Ivan Dunleavy, Pinewood CEO, said: “Today’s agreement is another step forward for the Pinewood brand internationally.
“This new studio will target US productions. Georgia has excellent fiscal incentives and a great crew base. 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, added: “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.”
Pinewood earlier this month announced a joint-venture for expansion in China and is rolling out its new studios in Malaysia and the Dominican Republic later this year.