UK based Pinewood Group announced that it has acquired full ownership of Pinewood Toronto Studios, a state-of-the-art, purpose-built film and TV studio in Toronto.
Pinewood Toronto Studios is a global destination for film and television productions, located minutes from Downtown Toronto and home to the Mega Stage, one of the largest purpose-built soundstages in North America. Pinewood Group has provided sales and marketing services since 2009 when Pinewood was first incorporated into the name of the Toronto studios.
In addition to the acquisition, Pinewood Toronto Studios celebrates the completion of its most recent expansion adding a further 170,000 square feet of production space including five purpose-built soundstages. With this expansion Pinewood Toronto Studios becomes the largest film and TV studio in Ontario with 490,000 square feet of production space and 16 purpose-built soundstages.
Paul Golding, Chairman, Pinewood Group said: “We have worked with our partners for many years to create the City’s pre-eminent studio, and we’re now delighted to have bought it. We will continue to invest in the studio and the surrounding Port Lands to ensure Pinewood Toronto Studios remains the number one destination for both domestic and international productions. We intend to work closely with the City to support Toronto’s thriving film and TV industry and all those who work in it.”
Paul Bronfman, Chairman and Founding Shareholder, Pinewood Toronto Studios added: “I am thrilled that Paul Golding and his team at Pinewood Group are acquiring our studio. As the Chairman of Pinewood Toronto Studios since 2009, I am excited and look forward to this new opportunity for the City of Toronto.”
Councillor Paula Fletcher, Ward 14 City Councillor (Toronto-Danforth) and CreateTO Board Member: “I’m very proud of the Toronto film and television industry, to which Pinewood Toronto Studios is integral. This investment from a major global studio company like the independent Pinewood Group reaffirms the industry talent and skills of Toronto.”
Vic Gupta, CEO, CreateTO added: “Pinewood Group is a world-renowned studio and CreateTO, on behalf of the City of Toronto, welcomes this investment in the city’s film and television industry. I am also particularly pleased that the studio has agreed to the creation of a city-building fund with a significant investment, which will further support the development of the sector in the Port Lands, an important hub for the media production industry and would like to thank them for this added commitment.”
Ron Carinci, Chair, CreateTO Board of Directors said: “The acquisition of Pinewood Toronto Studios by Pinewood Group represents a significant investment in our city. CreateTO is pleased this transaction will not only preserve and protect the future of the local film, television and digital media industry – a major economic driver for the City of Toronto – but will contribute to the industry’s unprecedented growth and further the development of the Media City District in Toronto’s Port Lands. We look forward to becoming the home of many new productions in the future.”
Marguerite Pigott, Toronto Film Commissioner and Director of Entertainment Industries at City of Toronto: “Film and television production in Toronto has seen massive growth. The acquisition by Pinewood Group is an exciting demonstration of Toronto’s global appeal and a strong indicator of continued robust growth well into the future. We are thrilled to welcome them.”
