Pinewood Group Explained

Pinewood Group Limited
Type:Private
Location City:Iver Heath, Buckinghamshire
Location Country:United Kingdom
Key People:Paul Golding (chairman & Interim CEO)
Industry:Film Television
Revenue:£64.06 million (2014)[1]
Operating Income:£4.88 million (2014)
Net Income:£5.35 million (2014)
Assets:£155.57 million (at 31 December 2014)
Equity:£84.71 million (at 31 December 2014)
Owner:Aermont Capital[2] (65.19%)
Aviva (14.14%)
Crystal Amber Fund (5.65%)
Isle of Man Treasury (3.57%)

Pinewood Group Limited (formerly Pinewood Group plc and Pinewood Shepperton plc) is a British multinational film studio and television studio company with headquarters in Iver Heath, Buckinghamshire, England. The group runs Pinewood Studios and Shepperton Studios in the UK and Pinewood Toronto Studios in Canada, Pinewood Indomina Studios in the Dominican Republic, Pinewood Studio Berlin in Germany, Pinewood Iskandar Malaysia Studios in Malaysia, and until 2020 it had a controlling stake in Pinewood Atlanta Studios in the US.[3]

To date, over 1,500 productions have used facilities or services provided by Pinewood Group.

History

Formation and expansion

The Pinewood Studios Group was formed by merger of Pinewood and Shepperton Studios at the start of the new millennium. The company floated on the London Stock Exchange in 2004 as Pinewood Shepperton Plc.[4] [5] In 2005, Teddington Studios was purchased by the Group.[6] [7]

A period of rapid international expansion began in 2009 when The Pinewood Studios Group took over sales and marketing of what was then Filmport (now Pinewood Toronto Studios). Then within three months, three new ventures were announced, two being completely new studio complexes. The first was Pinewood Iskandar Malaysia Studios in partnership with Khazanah Nasional Berhad (the investment holding arm of the Government of Malaysia).[8] Next came the announcement of Pinewood Studio Berlin. Then in February 2011 the company announced that it was planning to open a 35-acre film and television studio in the Dominican Republic.[9] [10]

Later in 2011, The Peel Group acquired a controlling 71% interest in the company for £96 million.[11] [12]

Project Pinewood

In November 2007, Pinewood announced a £200m expansion plan, known as Project Pinewood.[13] When built the development will see replicas of streetscapes and zones replicating locations from the UK, Europe and the USA.[14] [15] Planned zones include a college campus, Amsterdam, modern European housing, Venice, Lake Como, Paris, an Amphitheatre, Prague, West coast American housing, warehousing and downtown New York sets, Chicago, Vienna, a castle, a UK canal, Chinatown and a London street market built.[16] In addition it will also be used as residential housing, with the proposed creative community, expected to be in the region of 2000 and 2250, being integrated with the film locations. Job creation is also a key part of the plan, helping to boost the economy of both the region and the nation as a whole.[16]

An application for planning permission was formally submitted in June 2009.[17] However, the planning application was rejected by South Bucks District Council in October 2009, following a prolonged opposition campaign by local residents, who formed a "Stop Project Pinewood" group.[18] Pinewood have since appealed the decision and a public inquiry commenced on 5 April 2011.[19] In June 2014 Pinewood won its appeal and began developing the expansion.[20]

Recent developments

In February 2015, the name of the company changed from Pinewood Shepperton plc to Pinewood Group plc.[21]

In June 2015, The Peel Group reduced its stake in the company to 39%.[22]

In February 2016, the group confirmed it was considering options for its business, including a possible sale.[23] In July 2016, its two largest shareholders, Goodweather Investment Management owned by The Peel Group and Warren James Holdings agreed to sell their respective holdings to Aermont Capital.[24] Pinewood agreed to the £323 million deal in August 2016, which would take the group private.[25] The sale was completed on 4 October 2016, and the company delisted from the London Stock Exchange the following day.[2]

Operations

United Kingdom

Pinewood Studios

See main article: Pinewood Studios. Pinewood Studios is well-known for its connection with the James Bond film series. It has been the home for many other productions over the years, large and small. With a total of seventeen stages (including the 007 Stage, Underwater Stage and TV studios), Pinewood is the UK's largest and most prolific studio.

Pinewood Studio Wales

See main article: Seren Stiwdios. Pinewood Studio Wales opened in north-east Cardiff in January 2015. Television series The Bastard Executioner, Sherlock and A Discovery of Witches have been filmed there.

In October 2019, Pinewood announced its intention to terminate its lease and management agreement with the Welsh government in March 2020. The studio complex was rebranded as Seren Stiwdios and was acquired by Great Point in October 2020.[26]

Shepperton Studios

See main article: Shepperton Studios. Shepperton Studios is often described as the home for independent filmmaking in the UK but it has also been used for the production of a number of blockbuster films including , which used eight of the fifteen stages at Shepperton.

Teddington Studios

See main article: Teddington Studios. Teddington Studios was a specialist television studio complex on the banks of the River Thames. It had eight television studios ranging from 383 sq ft to 8,891 sq ft. The first UK sitcom to be shot in high definition, The Green Green Grass was filmed at Teddington Studios.

The studios closed in 2014 and the site cleared for residential revelopement.

Pinewood Films

In 2011, The Pinewood Studios Group created Pinewood Films to help fund and provide facilities to independent British films with budgets of approximately £2million. Pinewood Films would invest equity up to 20% per film with the intention to support four films each year.[27]

The first film to receive funding is A Fantastic Fear of Everything starring Simon Pegg.[28] The film was shot at Shepperton Studios.

Elsewhere

Pinewood Toronto Studios

See main article: Pinewood Toronto Studios. Pinewood Toronto Studios is a major film and television studio complex in Toronto. The 11-acre site has over 250,000 sq ft of production space, comprising eight stages including North America's largest purpose-built soundstage.[29]

Pinewood Dominican Republic Studios

Pinewood Dominican Republic Studios is a state-of-the-art studio facility located in the southern coast of the Dominican Republic. It is operated with direct management and supervision from the Pinewood Studios Group. It is a modern production facility that offers full-service capabilities for film, TV, and related media content, including the largest and most advanced water filming facility in the world.[30]

Pinewood Studio Berlin

Pinewood Studio Berlin is a partnership between The Pinewood Studios Group and Studio Hamburg. The joint venture provides film production services and first class film and TV stages (ranging from 6,481 sq ft to 25,900 sq ft) to European and international filmmakers, making it easier to take advantage of the benefits of filming in Germany.[31]

Pinewood Iskandar Malaysia Studios

See main article: Pinewood Iskandar Malaysia Studios. Opened in June 2014, Pinewood Iskandar Malaysia Studios includes 100,000 sq ft of film stages, 24,000 sq ft of TV studios as well as offices, workshops and post production facilities.[32]

In June 2019, Pinewood Group ended its involvement with the studios - the complex subsequently being renamed to Iskandar Malaysia Studios.[33]

Pinewood Atlanta Studios / Trilith Studios

See main article: Trilith Studios. Located in Fayetteville, Georgia in south-southwestern metro Atlanta.

In October 2020, it was announced Pinewood Group sold its stake in the studios to Chick-fil-A CEO and businessman Dan Cathy. The Atlanta studio was subsequently re-branded as Trilith Studios. Ongoing development phases were also announced, expected to bring 7,000 jobs to the state of Georgia.[34] Trilith Studios is currently the second-largest film and television studio in North America.[35]

Los Angeles sales office

The Pinewood Studios Group has a US-based sales office located at Sony Pictures Studio in Culver City, Los Angeles.[36]

External links

Notes and References

  1. Web site: Pinewood Summary financial accounts - PWS - Morningstar. tools.morningstar.co.uk. 1 February 2019.
  2. News: Szalai. Georg. Pinewood Completes Sale to Real Estate Investment Fund. 15 November 2016. The Hollywood Reporter. 5 October 2016. https://web.archive.org/web/20161116024932/http://www.hollywoodreporter.com/news/pinewood-group-completes-sale-fund-934872. 16 November 2016. live. dmy-all.
  3. Web site: Pinewood Sells Stake in Atlanta Studios. The Hollywood Reporter. 21 August 2019.
  4. News: Pinewood Shepperton to float on stock market. 1 April 2004. The Guardian. 30 September 2011. https://web.archive.org/web/20140913121457/http://www.theguardian.com/business/2004/apr/01/film.filmnews. 13 September 2014. live. dmy-all.
  5. News: Pinewood share sale raises £46m. 7 May 2004. BBC News. 30 September 2011.
  6. News: Pinewood buys Teddington Studios. 1 April 2005. BBC News. 30 September 2011. https://web.archive.org/web/20060524032920/http://news.bbc.co.uk/1/hi/business/4399671.stm. 24 May 2006. live. dmy-all.
  7. News: Teddington Studios sold to rival. 1 April 2005. The Guardian. 30 September 2011. https://web.archive.org/web/20140918175758/http://www.theguardian.com/business/2005/apr/02/7. 18 September 2014. live. dmy-all.
  8. News: Pinewood sets up in Malaysia. 17 December 2009. The Times. 30 September 2011.
  9. News: Pinewood Shepperton to open 'water studio' in Dominican Republic. 22 February 2011. The Telegraph. 30 September 2011. https://web.archive.org/web/20111104101430/http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/8341077/Pinewood-Shepperton-to-open-water-studio-in-Dominican-Republic.html. 4 November 2011. live. dmy-all.
  10. News: UK's Pinewood to run new Dominican Rep film studio. 23 February 2011. Reuters. 30 September 2011. https://web.archive.org/web/20120112174743/http://in.reuters.com/article/2011/02/23/idINIndia-55093220110223. 12 January 2012. live. dmy-all.
  11. News: Pinewood Shepperton back £96m takeover offer. 27 April 2011. The Independent. 30 September 2011. https://web.archive.org/web/20120119004545/http://www.independent.co.uk/news/business/news/pinewood-shepperton-back-96m-takeover-offer-2275350.html. 19 January 2012. live. dmy-all.
  12. News: Pinewood Shepperton backs higher Peel Group bid over interest from billionaire businessman Mohammed Fayed. 27 April 2011. The Telegraph. 30 September 2011. https://web.archive.org/web/20110430074216/http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/8476236/Pinewood-Shepperton-backs-higher-Peel-Group-bid-over-interest-from-billionaire-businessman-Mohammed-Fayed.html. 30 April 2011. live. dmy-all.
  13. News: Pinewood studios plan expansion. BBC. 15 November 2007. 23 September 2011. https://web.archive.org/web/20090605091109/http://news.bbc.co.uk/1/hi/entertainment/7097093.stm. 5 June 2009. live. dmy-all.
  14. News: Pinewood's £200m plan to rival Hollywood. 15 November 2007. The Telegraph. 30 September 2011. https://web.archive.org/web/20161009051942/http://www.telegraph.co.uk/finance/markets/4665239/Pinewoods-200m-plan-to-rival-Hollywood.html. 9 October 2016. live. dmy-all.
  15. News: Pinewood plans live-in movie sets. 16 November 2007. The Telegraph. 30 September 2011. https://web.archive.org/web/20161009051933/http://www.telegraph.co.uk/finance/markets/2819609/Pinewood-plans-live-in-movie-sets.html. 9 October 2016. live. dmy-all.
  16. Web site: Project Pinewood press release. 3 April 2008. 23 September 2011. https://web.archive.org/web/20080910161020/http://www.projectpinewood.com/material/pw_map.pdf. 10 September 2008. dead. dmy-all.
  17. News: Pinewood applies for permission to build rival Hollywood. 1 June 2009. The Telegraph. 30 September 2011. https://web.archive.org/web/20100604032604/http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/5420233/Pinewood-applies-for-permission-to-build-rival-Hollywood.html. 4 June 2010. live. dmy-all.
  18. News: Pinewood's £200m plans rejected. 22 October 2009 . BBC News. 30 September 2011.
  19. News: Project Pinewood Newsletter. The Pinewood Studios Group. 23 September 2011.
  20. News: Pinewood wins £200m expansion appeal. BBC News. 19 June 2014. 1 February 2019. https://web.archive.org/web/20190105134839/https://www.bbc.com/news/uk-england-beds-bucks-herts-27921618. 5 January 2019. live. dmy-all.
  21. Web site: Change of Name. 23 February 2015. London Stock Exchange. 2 February 2016.
  22. Web site: Pinewood Group plc Annual Report & Accounts 2015. 24. Pinewood Group plc. 29 June 2015. 22 February 2016. https://web.archive.org/web/20160303200509/http://www.pinewoodgroup.com/sites/default/files/ps-pdfs/pinewood_ar15_proof3_3july.pdf. 3 March 2016. dead. dmy-all.
  23. News: Anderson. Elizabeth. Pinewood mulls sale after 'robust' growth. 21 February 2016. The Telegraph. 10 February 2016. https://web.archive.org/web/20160211100544/http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/12149693/Pinewood-mulls-sale-after-robust-growth.html. 11 February 2016. live. dmy-all.
  24. News: James Bond studio Pinewood to be sold. 25 August 2016. BBC News. 28 July 2016. https://web.archive.org/web/20160902103522/http://www.bbc.co.uk/news/business-36911786. 2 September 2016. live. dmy-all.
  25. News: Davies. Rob. Pinewood Studios to be taken private in £323m deal with Aermont Capital. 25 August 2016. The Guardian. 12 August 2016. https://web.archive.org/web/20160824063126/https://www.theguardian.com/business/2016/aug/12/pinewood-studios-to-be-taken-private-in-323m-deal-with-aermont-capital. 24 August 2016. live. dmy-all.
  26. News: Barry . Sion . Former Pinewood Wales Studios taken over by Great Point . 30 July 2022 . Business Live . 2 October 2020 . en.
  27. Web site: Film Finance. The Pinewood Studios Group. 23 September 2011. 23 September 2011. https://web.archive.org/web/20110926081021/http://www.pinewoodgroup.com/our-studios/uk/film-finance. 26 September 2011. live. dmy-all.
  28. Web site: PINEWOOD ANNOUNCES SUPPORT FOR FIRST BRITISH FILM PRODUCTION. The Pinewood Studios Group. 23 September 2011. https://web.archive.org/web/20111126174620/http://www.pinewoodgroup.com/about-us/news/pinewood-announces-support-first-british-film-production. 26 November 2011. dead. dmy-all.
  29. Web site: Pinewood Toronto Studios. The Pinewood Studios Group. 23 September 2011. https://web.archive.org/web/20110925004021/http://www.pinewoodgroup.com/our-studios/canada/pinewood-toronto-studios. 25 September 2011. live. dmy-all.
  30. Web site: Pinewood Dominican Republic Studios. The Pinewood Studios Group. 23 September 2011. https://web.archive.org/web/20140406154424/http://www.pinewoodgroup.com/our-studios/dominican-republic/pinewood-dominican-republic-studios. 6 April 2014. live. dmy-all.
  31. Web site: Pinewood Studio Berlin. The Pinewood Studios Group. 23 September 2011. https://web.archive.org/web/20110925004037/http://www.pinewoodgroup.com/our-studios/germany/pinewood-berlin. 25 September 2011. dead. dmy-all.
  32. Web site: Pinewood Iskandar Malaysia Studios officially opens and is in full swing . The Pinewood Studios Group . 13 June 2014 . 20 August 2014 . https://web.archive.org/web/20140821101438/http://www.pinewoodgroup.com/our-studios/malaysia/news/pinewood-iskandar-malaysia-studios-officially-opens-and-full-swing-0 . 21 August 2014 . live . dmy-all .
  33. Web site: Clarke . Stewart . Pinewood Pulls Out of Iskandar Malaysia Studios Partnership . Variety . 10 June 2020 . en . 11 July 2019.
  34. Web site: Pinewood Atlanta Rebrands as 'Trilith', Completes Separation from UK, Expands Studio & Adjacent Planned Community. 7 October 2020.
  35. Web site: Wiseman. Andreas. 2019-08-21. Pinewood Sells Stake In Atlanta Studios After Six Year Run. 2021-02-12. Deadline. en-US.
  36. Web site: Lodderhose . Diana . Pinewood sets up L.A. office . Variety . 10 June 2020 . en . 17 January 2011.

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