The Welsh government has sold Cardiff-based studio space Seren Studios to media infastructure company Great Point Studios for PS9.35m.
Great Point Media, founded in 2013 by UK-based Jim Reeve and US-based Robert Halmi, had been leasing the studio under a 10-year deal since 2020.
Halmi is also CEO and founder of New York-based offshoot Great Point Studios, that has developed Lionsgate Studios in Yonkers, New York, as well as additional studio campuses Buffalo, New York and Newark, New Jersey. The Welsh government and Cardiff Capital Region also agreed to a funding package worth PS18m for the further development of the studios and facility. The Cardiff Capital Region PS50m Strategic Premises Fund has provided PS12m in debt financing, while Creative Wales has provided PS6m of grant funding. This investment is intended to create jobs and support growth for the region and wider supply chain, as well supporting production demand. The project will also support up to 750 freelance crew per year, up from the current 250 and the studio in Wales will become the headquarters for Great Point Studios.
According to BBC News, this will will make the site Wales’ largest studio space.
Seren Studios was previously known as Pinewood Studio, Wales, and has hosted Gareth Evan’s Netflix action-thriller,
, starring Tom Hardy, BBC and HBO series
Industry and Sky series A Discovery Of Witches.Earlier this year, Great Point also announced the building of a major new production facility in Atlanta, Georgia.What impact is Israel’s political turmoil having on the country’s film industry?