Pinewood Shepperton plc, a leading provider of services to the global film and television industry, today announced that the Group has entered into a 50:50 Joint Venture Agreement with Seven Stars Media Limited (“Seven Stars”), part of one of China’s leading private media groups which provides content creation and distribution, media services and events. The joint venture, to be called “Song Lin”, initially will assess a number of business proposals in the growing entertainment market in China. Under the terms of the joint venture, Pinewood will provide its expertise with limited capital investment.
UK Prime Minister David Cameron said: “It’s great to see Pinewood Studios expanding its business with the announcement of its joint venture with Seven Stars Media. The creative industries are a rapidly growing area of China’s economy and will increasingly provide huge opportunities for UK companies competing in the global race. Pinewood is leading the way, taking advantage of China’s thriving entertainment and media sector and building on Britain and China’s growing trade relationship.”