Pinewood in talks over £25m film and TV fund

The deal would see Pinewood advise on film investment opportunities for the Isle of Man’s Media Development Fund (MDF) for an initial term of five years.

As part of the arrangement the Isle of Man government is set to invest £24 million in a 19.9% stake in Pinewood Shepperton.

In a statement, the Isle of Man said it had been active in film and television production since 1995, investing £170 million in 97 productions.

The Isle of Man’s investment in film and television has been managed by CinemaNX since 2007.

If Pinewood and the government of the Isle of Man enter into an agreement a team from the current advisors will join Pinewood.  

Isle of Man treasury minister Eddie Teare said the international film industry was undergoing “significant change particularly in financing and production”.

“Building partnerships is becoming increasingly important for the film and television industry,” he said.

“Developing an investment strategy with an established partner which has an international reputation in film and television and in bringing production to the UK, will help the Island to build further upon the success that it has achieved in what is a growth sector for the world economy.”

Pinewood said further announcements would be made “in due course”.