Pinewood Shepperton to form joint venture with River Rock llc

Pinewood Shepperton, a provider of services to the film and television industry, has unveiled a joint venture to be named Pinewood Atlanta with River's Rock llc, an independently managed trust of the Cathy family.

Pinewood Shepperton, a provider of services to the film and television industry, has unveiled a joint venture to be named Pinewood Atlanta with River's Rock llc, an independently managed trust of the Cathy family.

The company said that the joint venture would 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.

Subscribe to MoneyWeek

Become a smarter, better informed investor with MoneyWeek.

The land and studio construction costs would be funded by equity from River's Rock and a debt facility from Synovus Bank, Pinewood added.

Under the terms of the agreement, the business is to operate under the Pinewood trademark and Pinewood said it had received 40% of the shareholding in the joint venture.

Advertisement - Article continues below

Ivan Dunleavy, Chief Executive Officer of Pinewood, 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."

Trading update: results 'in line with management expectations'Trading for the financial year ended March 31st 2013 was 'in line with management expectations', the company said, adding that the outlook for the year across all revenue streams continued to reflect strong demand.

Pinewood's share price was down 0.04% to 278.38p at 10:23 on Monday.




Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020
Share tips

Class acts going cheap: buy into Europe’s best bargains

Value investing appears to be making a comeback, while shares on this side of the Atlantic are more appealing on metrics such as price/earnings ratios…
16 Jan 2020

Most Popular


What does the coronavirus crisis mean for UK house prices?

With the whole country in lockdown, the UK property market is closed for business. John Stepek looks at what that means for UK house prices, housebuil…
27 Mar 2020
UK Economy

The UK’s bailout of the self employed comes with a hidden catch

The chancellor’s £6.5bn bailout of the self employed is welcome. But it has hidden benefits for the taxman, says Merryn Somerset Webb.
27 Mar 2020
UK Economy

Debt jubilee: will our debts be written off?

The idea of a "debt jubilee" – general society-wide cancellation of debt – goes back to Biblical times. Could it happen again? And would it really do …
28 Mar 2020

Coronavirus: what it means for your mortgage or your rent

Ruth Jackson-Kirby looks at all the key questions for owners, renters and landlords affected by the coronavirus crisis.
29 Mar 2020