Pinewood Shepperton plc ("the Company" or “Pinewood”), a leading provider of services to the global film and television industry, today announces a joint venture to be named Pinewood Atlanta, with River’s Rock llc, an independently managed trust of the Cathy family. The joint venture will work to initially develop 288 acres of land south of Atlanta, Georgia, USA, into world class studio facilities for the production of film, television, music and video games.
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.
Pinewood Atlanta will allow producers access to attractive fiscal incentives from the State of Georgia, within a conveniently located, secure hub in the USA for productions to base themselves. Construction is expected to commence immediately.
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 llc said:
“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.”