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The UK's Pinewood Shepperton plc, has concluded a comprehensive sales and marketing agreement for Toronto’s largest studio operation, formerly known as Filmport Studios and now renamed Pinewood Toronto Studios.
“The Pinewood name is synonymous with quality and experience in the film and television industry," said Paul Bronfman, Chairman of the new consortium.
"We believe Pinewood’s international network and connections will take the existing studios to the next business level."
The new investor group comprises Comweb Corporation, ROI Capital, the City of Toronto Economic Development Corporation (TEDCO) and Castlepoint Realty Partners.
Pinewood, partly owned by directors Ridley and Tony Scott, operates three major studios in the UK, where it is the leading European provider of studio/related services to the worldwide screen industries.
"Toronto has robust film and television infrastructure, excellent technicians and fine talent",” said Edith Myers Pinewood Toronto Studios managing director.
"The plan is to work with the modern, purpose-built facilities and, over time, the shareholders will look to add further enhancements."
Pinewood Toronto Studios has seven soundstages including the 46,000-square-foot 'Mega Stage', the largest of its kind in North America. The 11-acre site is situated in the city’s Portlands district adjacent to downtown Toronto.
"We wanted Pinewood’s experience to take the Toronto facility to its fullest potential," said John Sterling, chief executive officer, ROI Capital and major shareholder in the consortium.
"The fact that Pinewood was looking to come to Toronto means the stars were aligned..."