Pinewood Shepperton has signed a five-year deal to manage the Isle of Man Treasury’s (IOMT) £25m TV and film fund.
The deal, which was first mooted in June this year, will see Pinewood source and advise on investment opportunities in exchange for an annual management fee, fees on projects that the IOMT invests in and a proportion of revenues received from UK distribution rights to film and TV projects.
Pinewood will also receive a proportion of the revenue from the existing library of 97 IOMT funded films as a fee for managing the collection of revenues from the films.
Pinewood Shepperton chief executive Ivan Dunleavy said: “We are delighted to have successfully concluded discussions with the Isle of Man Treasury.
“This agreement is a further example of extending the reach of the Pinewood brand and builds on the company’s successful Pinewood Films initiative to play a bigger role in UK independent film and television production.”
The Isle of Man Treasury (IOMT) has also bought 4,891,582 shares in the capital of Pinewood for 250 pence per share.
Completion of the sale of the shares is conditional on the IOMT agreement completing by the end of the month.
The IOMT will be advised by Pinewood Film Advisors Limited (PFA), a wholly-owned subsidiary of the facilities firm.