Today, it was announced via TheHollywoodReporter that the Pinewood Group has sold its stake in one of Georgia’s biggest and best-known stage facilities, Pinewood Atlanta Studios.
British studio space giant Pinewood Group said Wednesday that it has sold its stake in Pinewood Atlanta Studios to its joint venture partner to focus on its core business.
Here is the official statement made by the company.
“Pinewood is known across the world as a leading provider of studio space and over the last six years, Pinewood Atlanta Studios has become the second-largest purpose-built facility in the U.S.,” said Paul Golding, chairman of Pinewood Group.
“As our partners in Atlanta look to expand their focus and invest in content development, we have agreed to sell our equity in the studios. Pinewood will continue to prioritize its core business of providing studio infrastructure, including extensive growth plans in the U.K. and expansion in key international markets.”
Netflix, Disney, and other media groups have suggested they plan on leaving Georgia due to the anti-abortion laws recently passed in the state of Georgia, companies feel compelled to exit the state as not to be seen as supportive of the local governments.
There is a good chance that Marvel Studios/Disney will be leaving along with Pinewood.
The Pinewood Group is a huge player in the industry as they have had a longstanding relationship with Disney/Marvel studios to shoot films at the Atlanta facility as it has been a domestic home base for the MCU since Disney bought Marvel Studios.
As recently as last spring/summer there were plans to shoot Guardians of The Galaxy 3 at that location, but it remains to be seen if that will happen. The only project that is confirmed to film in Atlanta is The Falcon and The Winter Soldier, I wouldn’t be shocked if that was the last one made there.
This news would certainly explain why Marvel Studios has been outsourcing stage locations to Pinewood Studios UK and Fox Studios Australia for their Phase 4 feature films.
With Star Wars projects seemingly moving to Dagenham Studios in East London, it gives Marvel an opening to use Pinewood Studios UK more often as they’re currently doing with Black Widow, Eternals, and then Doctor Strange In The Multiverse of Madness.
James Gunn’s The Suicide Squad is expected to begin filming at the Atlanta Studios facility next month.
Having a major player like the Pinewood Group exit could mean that other high profiled projects and companies may leave as well. This will certainly have a very large impact on the film/television industry in the state along with the work local crews will be able to wrangle if massive productions start vacating.
SOURCE: THE HOLLYWOOD REPORTER