The owners of Pinewood Studios are looking to sell their TV and movie studios.
According to the Wall Street Journal, the company is up for sale and is looking to sell their production studio up for sale.
Pinewood Studios recently opened their biggest and best facility outside of Atlanta, Pinewood Studios Atlanta, which is located in Fayetteville, Georgia. Now, the studio is looking to sell the production facilities for up to $500 million.
The owners are reportedly seeking outside funding to continue to expand the business, according to reports. Around 80 percent of the company is owned by only three shareholders.
According to reports, Pinewood had a profitable half-year with an operating profit of about $10.2 million, up from $3.6 million a year earlier, according to the Wall Street Journal. This could be attributed to Atlanta’s growing film industry.
Recently, Pinewood Atlanta Studios built and designed state of the art production facilities and have unofficially become the headquarters for new Marvel productions, with several future Marvel films already scheduled to be produced in the ATL.
The Fayette Studios started construction in 2013. Now, Pinewood Atlanta Studios features 11 sound stages and is the home to the upcoming Guardians of the Galaxy 2 movie starring Chris Pratt.
