Prague Studios has received financing from the UK's Midnight Transfer to expand the Czech studios to include a post-production facility.
According to Prague Studios head Tomas Krejci Midnight Transfer, a post-production house with facilities in London's Soho and Twickenham Film Studios, plans to build editing facilities at the former aircraft assembly plant, which investors have converted into Prague Studios. The operation is set to launch in early 2004.
"Basically, Midnight Transfer is going to copy its very successful business in London," said Krejci, adding: "It's a major step in the evolution of Prague Studios, and it's a major step, especially, to bring Prague closer to the post-production business."
Krejci added he hoped other businesses from the Soho area would open facilities in Prague as tenants of the Studios. "We are indeed creating a digital media mall for companies that want to participate in the boom of film production happening in Prague," he said.
Midnight Transfer will take a minority stake in Prague Studios said Krejci, who together with Howard Woffinden is the current owner of the Studios, as well as the Prague-based production services company Milk & Honey. The parties have not disclosed the value of Midnight Transfer's investment.