Pinewood Shepperton has announced its second joint venture deal this month, with an agreement to build a new facility in the US.
Pinewood Atlanta, the name given to the JV with investment firm River’s Rock, will see 288 acres of land in Georgia developed into studio facilities for the production of film, television, music and video games.
Pinewood chief executive Ivan Dunleavy said: “Today’s agreement is another step forward for the Pinewood brand internationally.
“This new studio will target US productions. Georgia has excellent fiscal incentives and a great crew base.
“With River’s Rock we have a well-resourced partner that is committed to building a first class studio facility.”
Pinewood said construction work on the facility would start immediately.
The land and studio construction costs will be funded by equity from River’s Rock and a debt facility from Synovus Bank.
The business will operate under the Pinewood trademark and Pinewood has received 40% of the shareholding in the joint venture.
Pinewood will also provide the joint venture with sales and marketing services.
River’s Rock managing partner Jim Pace added: “We are tremendously excited to be creating a world class studio in the state of Georgia and are looking forward to working with Pinewood in the many years to come.
“The Pinewood brand is so well recognised in the global film industry and together there is a great opportunity to build an excellent facility that will attract the very best producers.”
Earlier this month, Pinewood announced a JV deal with China’s Seven Stars Media.
Meanwhile, Pinewood’s £200m planning application to increase the capacity at Pinewood Studios by 100,000 sq m will be heard by South Bucks District Council on 15 May.