News
Sunset Studios for UK
P lans to build a £ 700 million (€ 820m ) film and TV studios facility in the UK have been revealed by the owners of Sunset Studios in Los Angeles . An investment firm has already purchased a 91-acre site in Hertfordshire for £ 120m and , subject to planning permission , the facility will be built in Broxbourne .
The area is already home to independent Elstree Studios , where the Paddington movie was filmed , as well as Netflix series The Crown . The BBC ’ s also has its own Elstree studio , which is home to EastEnders .
Oliver Dowden , secretary of state for Digital , Culture , Media and Sport , said : “ This new studio is yet another vote of confidence in the UK ’ s booming film and TV industry . Through the British Film Commission , we ’ re supporting the development of stage spaces like this across the UK – boosting the local economy and backing our world-class creatives to make the next Bond blockbuster or bingeworthy box set .”
Those behind the plans said the studios would contribute £ 300m annually to the local economy and could create up to 4,500 jobs .
It would be the first expansion of the Sunset Studios brand outside the US , which was home to film productions such as When Harry Met
Sally , X-Men and La La Land .
The land had been purchased by investment firm Blackstone and real estate investment trust Hudson Pacific Properties .
Funds managed by Blackstone Real Estate Partners and Hudson Pacific Properties acquired a 91-acre site , 17 miles north of central London , through a joint venture for £ 120m (€ 141m ). The acquisition , with an expected total investment of over £ 700m , will be the partners ’ first expansion of their Sunset Studios platform outside of the US .
This transaction is a continuation of
“ This new studio is yet another vote of confidence in the UK ’ s booming film and TV industry .”
Blackstone ’ s existing joint venture with Hudson Pacific , a leading Los Angeles-based office and studio owner and operator . Together , Blackstone and Hudson Pacific own a media portfolio that totals 3.5 m square feet , including 35 active sound stages and on-site creative offices , as well as development rights .
“ We are excited to expand our partnership with Hudson Pacific into the UK , and intend to deliver a world-class studio facility that will help ensure that the UK continues to be a premier destination for content production globally ,” declared James Seppala , head of Blackstone Real Estate Europe . “ This is a continuation of our thematic investment focus and long-term conviction in media , entertainment and content creation .”
United Group to acquire Wind Hellas
Southeast Europe — focused telecommunications services and media provider United Group has reached an agreement with Crystal Almond Holdings Limited to acquire Greek telecoms operator Wind Hellas , one of the country ’ s three mobile operators .
Wind has a total of 4.2m users and offers mobile , fixed , Internet , and television services . It generates revenues in excess of € 500m annually .
The transaction will enable United Group to combine Wind with its existing Greek pay-TV provider Nova to create a strong converged operator
that will be the number two player in both broadband internet and television services .
In an attractive market , with significant potential for growth , the Wind-Nova combination will be better able to deliver converged offers , new technologies , and superior service , increasing value to Greek consumers .
EUROMEDIA 3