Equipment hire company VFG has bought Asylum Studios from the Sanctuary Group for an undisclosed fee, writes Will Strauss.
In a deal thought to be worth "in the low hundreds of thousands", the Wembley-based studio - which features two 9,000 sq ft dry-hire stages - will change hands as a going concern with all five full-time staff keeping their jobs. Pete Bowker remains as studio manager.
Discussing the purchase with Broadcast, VFG chief executive David Jennings said: "After a difficult year for everyone in the industry we have now firmly set out on a path of managed growth. This means building and integrating the range of services we can provide, of which studio facilities are a key part.
"[The purchase] extends the range of our potential offer to customers, particularly in the short-term market, allowing us to solve more production problems."
Jennings hinted that new equipment would be purchased for the studio and didn't rule out the possibility of future investment in a TV gallery.
The deal means that, from April, VFG will become the only supplier of lighting equipment to the studio. It will also offer its own camera and grip services to studio clients.