Pinewood Studios‘ executives reveal how the new deal will impact their business and the film industry.
Pinewood Studios is the biggest and probably one of the most powerful movie studios in Atlanta, Georgia. After Pinewood Studios finished building their amazing studio outside of Atlanta, Disney and Marvel have filmed several feature films inside their legendary walls. Now, it looks as though Pinewood Studios has a new boss.
According to Deadline, The Pinewood Group, which includes the iconic Pinewood Atlanta Studios has agreed to be bought by Aermont Capital for $419 million.
Pinewood Studios have been a home to the James Bond franchise, Star Wars movies and the Marvel feature films. So why did Pinewood sell their world famous movie studios?
Pinewood Chairman Lord Grade said, “The Board believes that Bidco can provide Pinewood with the platform required for future growth. The Pinewood Group has been transformed in recent years but has been somewhat constrained in realizing its ambitions due to the lack of share liquidity. As a result of the Strategic Review instigated by the Board, Pinewood now has the prospect of a funding structure for the future. The Board is encouraged by the commitment Bidco has already shown to management, to Pinewood’s strategy for growth, and to the future of the iconic Pinewood Studios.
“The Board believes that this transaction provides our shareholders with an attractive offer. Moreover the Board believes that following the transaction, Pinewood and clients will benefit from greater opportunities in the years ahead and the Board intends to recommend the offer unanimously.”
It’s important to point out that Pinewood operates a studio complex, which is actually owned by Chick-fil-A CEO Dan Cathy and several other investors. And has helped launch the amazing Georgia Film Academy. In addition, Dan Cathy revealed that he plans on expanding the property by building Pinewood Forrest a $700 million project that will include homes, shops, restaurants, hotels and healthcare facilities in Fayetteville, Georgia.
According to Reuters, the value of the deal is worth more than $420 million.
How will this impact Georgia’s film industry? Well it all depends on Chick-fil-A CEO Dan Cathy and the investing group at Venus Grafton. Until then, Spider-Man: Homecoming is now casting in Atlanta.
Via Deadline
Related:
- Pinewood Studios Sold for Over $400 Million
- Star Trek 2017 to Film at Pinewood Studios
-
Pinewood Studios to Start Creating New and Original TV Shows
What do you think? Share with us your thoughts in the comments below.
