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Pinewood Group

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Pinewood Group Limited
Company typePrivate
LSE: PWS
IndustryFilm Television
Founded2001; 23 years ago (2001)
Headquarters
Iver Heath, Buckinghamshire
,
United Kingdom
Key people
Paul Golding (chairman & Interim CEO)
Revenue£64.06 million (2014)[1]
£4.88 million (2014)[1]
£5.35 million (2014)[1]
Total assets£155.57 million (at 31 December 2014)[1]
Total equity£84.71 million (at 31 December 2014)[1]
OwnerAermont Capital[2] (65.19%)
Aviva (14.14%)
Crystal Amber Fund (5.65%)
Isle of Man Treasury (3.57%)
Subsidiaries
List
Websitepinewoodgroup.com

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

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Formation and expansion

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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

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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

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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

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United Kingdom

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Pinewood Studios

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The 007 Stage at Pinewood Studios in 2006, prior to rebuilding.
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.[citation needed]

Pinewood Studio Wales

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Pinewood Studio Wales, Cardiff
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

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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 Captain America: The First Avenger, which used eight of the fifteen stages at Shepperton.

Teddington Studios

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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

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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

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Pinewood Toronto Studios

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Pinewood Toronto Studios
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

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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

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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

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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

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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

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

References

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  1. ^ a b c d e "Pinewood Summary financial accounts - PWS - Morningstar". tools.morningstar.co.uk. Retrieved 1 February 2019.
  2. ^ a b Szalai, Georg (5 October 2016). "Pinewood Completes Sale to Real Estate Investment Fund". The Hollywood Reporter. Archived from the original on 16 November 2016. Retrieved 15 November 2016.
  3. ^ "Pinewood Sells Stake in Atlanta Studios". The Hollywood Reporter. 21 August 2019.
  4. ^ "Pinewood Shepperton to float on stock market". The Guardian. 1 April 2004. Archived from the original on 13 September 2014. Retrieved 30 September 2011.
  5. ^ "Pinewood share sale raises £46m". BBC News. 7 May 2004. Retrieved 30 September 2011.
  6. ^ "Pinewood buys Teddington Studios". BBC News. 1 April 2005. Archived from the original on 24 May 2006. Retrieved 30 September 2011.
  7. ^ "Teddington Studios sold to rival". The Guardian. 1 April 2005. Archived from the original on 18 September 2014. Retrieved 30 September 2011.
  8. ^ "Pinewood sets up in Malaysia". The Times. 17 December 2009. Retrieved 30 September 2011.[dead link‍]
  9. ^ "Pinewood Shepperton to open 'water studio' in Dominican Republic". The Telegraph. 22 February 2011. Archived from the original on 4 November 2011. Retrieved 30 September 2011.
  10. ^ "UK's Pinewood to run new Dominican Rep film studio". Reuters. 23 February 2011. Archived from the original on 12 January 2012. Retrieved 30 September 2011.
  11. ^ "Pinewood Shepperton back £96m takeover offer". The Independent. 27 April 2011. Archived from the original on 19 January 2012. Retrieved 30 September 2011.
  12. ^ "Pinewood Shepperton backs higher Peel Group bid over interest from billionaire businessman Mohammed Fayed". The Telegraph. 27 April 2011. Archived from the original on 30 April 2011. Retrieved 30 September 2011.
  13. ^ "Pinewood studios plan expansion". BBC. 15 November 2007. Archived from the original on 5 June 2009. Retrieved 23 September 2011.
  14. ^ "Pinewood's £200m plan to rival Hollywood". The Telegraph. 15 November 2007. Archived from the original on 9 October 2016. Retrieved 30 September 2011.
  15. ^ "Pinewood plans live-in movie sets". The Telegraph. 16 November 2007. Archived from the original on 9 October 2016. Retrieved 30 September 2011.
  16. ^ a b "Project Pinewood press release" (PDF). 3 April 2008. Archived from the original (PDF) on 10 September 2008. Retrieved 23 September 2011.
  17. ^ "Pinewood applies for permission to build rival Hollywood". The Telegraph. 1 June 2009. Archived from the original on 4 June 2010. Retrieved 30 September 2011.
  18. ^ "Pinewood's £200m plans rejected". BBC News. 22 October 2009. Retrieved 30 September 2011.
  19. ^ "Project Pinewood Newsletter" (PDF). The Pinewood Studios Group. Retrieved 23 September 2011.[permanent dead link‍]
  20. ^ "Pinewood wins £200m expansion appeal". BBC News. 19 June 2014. Archived from the original on 5 January 2019. Retrieved 1 February 2019.
  21. ^ "Change of Name". London Stock Exchange. 23 February 2015. Retrieved 2 February 2016.[permanent dead link‍]
  22. ^ "Pinewood Group plc Annual Report & Accounts 2015" (PDF). Pinewood Group plc. 29 June 2015. p. 24. Archived from the original (PDF) on 3 March 2016. Retrieved 22 February 2016.
  23. ^ Anderson, Elizabeth (10 February 2016). "Pinewood mulls sale after 'robust' growth". The Telegraph. Archived from the original on 11 February 2016. Retrieved 21 February 2016.
  24. ^ "James Bond studio Pinewood to be sold". BBC News. 28 July 2016. Archived from the original on 2 September 2016. Retrieved 25 August 2016.
  25. ^ Davies, Rob (12 August 2016). "Pinewood Studios to be taken private in £323m deal with Aermont Capital". The Guardian. Archived from the original on 24 August 2016. Retrieved 25 August 2016.
  26. ^ Barry, Sion (2 October 2020). "Former Pinewood Wales Studios taken over by Great Point". Business Live. Retrieved 30 July 2022.
  27. ^ "Film Finance". The Pinewood Studios Group. 23 September 2011. Archived from the original on 26 September 2011. Retrieved 23 September 2011.
  28. ^ "PINEWOOD ANNOUNCES SUPPORT FOR FIRST BRITISH FILM PRODUCTION". The Pinewood Studios Group. Archived from the original on 26 November 2011. Retrieved 23 September 2011.
  29. ^ "Pinewood Toronto Studios". The Pinewood Studios Group. Archived from the original on 25 September 2011. Retrieved 23 September 2011.
  30. ^ "Pinewood Dominican Republic Studios". The Pinewood Studios Group. Archived from the original on 6 April 2014. Retrieved 23 September 2011.
  31. ^ "Pinewood Studio Berlin". The Pinewood Studios Group. Archived from the original on 25 September 2011. Retrieved 23 September 2011.
  32. ^ "Pinewood Iskandar Malaysia Studios officially opens and is in full swing". The Pinewood Studios Group. 13 June 2014. Archived from the original on 21 August 2014. Retrieved 20 August 2014.
  33. ^ Clarke, Stewart (11 July 2019). "Pinewood Pulls Out of Iskandar Malaysia Studios Partnership". Variety. Retrieved 10 June 2020.
  34. ^ "Pinewood Atlanta Rebrands as 'Trilith', Completes Separation from UK, Expands Studio & Adjacent Planned Community". 7 October 2020.
  35. ^ Wiseman, Andreas (21 August 2019). "Pinewood Sells Stake In Atlanta Studios After Six Year Run". Deadline. Retrieved 12 February 2021.
  36. ^ Lodderhose, Diana (17 January 2011). "Pinewood sets up L.A. office". Variety. Retrieved 10 June 2020.
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