Air Studios wants to move into film and TV production after setting up a new company and taking on two senior executives.
The newly formed Air Entertainment Group (AEG), which comprises Air Studios, Air Post Production, Air Management, Air Mastering, Strongroom Studios and Strongroom Hire, is now looking to raise funds for projects that will develop Air into a “global entertainment business”.
Air managing director Richard Boote, who set up Strongroom in 1985 and bought Air Studios in 2006, will become chairman of AEG.
Media lawyer and entrepreneur Paul Woolf has been appointed chief executive, while former HandMade Films chief executive David Ravden has taken on the role of development and finance director.
The trio will jointly own AEG, which will “push into record labels, publishing, film finance and the expansion of [talent agency] Air Management”, according to Boote.
“We plan to raise money that will be needed to do everything properly,” Boote said.
“The value of the facilities is £10-15m and we are leveraging that to come up with a high six-figure sum to start developing the creative side of the business.”
Ravden is involved in talks with production companies about coproductions with AEG, but Boote said it was also happy to work independently on “anything from a film script or a one-off TV show to a series”.
Boote said AEG would continue to offer its studio services and audio and picture post-production.
“After 25 years running music studios and post facilities, we decided the knowledge that I and our staff have should be used for our own benefit. And, let’s be honest, there is possibly not the demand there used to be, so it is time to get creative.”
Boote said Air would look to expand beyond current staffing levels of 60 full-time employees.
Over the next month, colourist Adrian Brindle and Prime Focus senior sales executive Neil Coles will also join the company.