Pinewood launches TV division to take advantage of rise of high-end television dramas
Pinewood is launching a new TV division that will fund quality drama series as the studio looks to meet the rising global demand for high-end television.
Pinewood
Home to the new Star Wars and James Bond films, Pinewood will now broaden its reach beyond Hollywood productions in order to accommodate shows with a minimum budget of £1m an episode.
The new TV division will be led by Helen Gregory whose credits include Sky’s Fortitude, the BBC’s The Last Kingdom and Scandal, and Grey’s Anatomy creator Shonda Rimes’s upcoming series The Catch.
Ivan Dunleavy, chief executive of Pinewood Group said the “global demand for high-end television continues to rise dramatically and, with high end TV fiscal incentives available [tax credits], the Pinewood television business will participate in this growing market.”
The business was made possible after Pinewood agreed a joint venture with media investment company StoryFirst, which has previously invested in the Russian version of Hello! magazine, Hello! TV and Sony Pictures Cable Channels.
“We look forward to a long and fruitful partnership with Pinewood, developing and building Pinewood Television into world class originator and owner of high quality television drama,” said Peter Gerwe, chief executive of StoryFirst.
The move will help bolster the UK entertainment industry and builds on Pinewood’s television portfolio which last year invested in Amazon’s first UK original drama, period fashion drama The Collection.