Pinewood Studios to submit revised expansion plan in the autumn
Pinewood Studios near London will submit a revised expansion plan in the next few weeks. The ‘Project Pinewood’ proposal was rejected by local authorities earlier in the year but the studio has always been clear that changes have to be made if it’s to remain globally competitive.
‘Project Pinewood’ envisioned a GBP200 million expansion that would have included new permanent sets, crew accommodation and housing, but it failed to get planning permission. The studio will announce a new plan in the autumn.
Michael Grade is Chairman of the studio: “A long-term plan for growth and investment at Pinewood Studios is necessary to remain globally competitive and respond to the changing needs and future demand of the screen and digital industries.”
The studio is also in advanced negotiations with the Government of the Isle of Man. It looks likely that the British Crown Dependency in the Irish Sea will take a 19.9% stake in the studios, while the company itself will manage the Isle of Man’s Media Development Fund.
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