As part of the deal, Pinewood will also “source and advise on film investment opportunities for (IoM”s) £25 million Media Development Fund (MDF) for an initial term of five years”.

 

The agreement is not finalised, but “it is proposed that a core team from CinemaNX (the current adviser to the MDF) will join the Company to provide continuity.” The plan requires the consent of the Isle of Man Parliament.

 

Note: The Isle of Man has been active in film and television production since 1995, investing £170m in 97 productions. 

 

Commenting on the proposed deal, Eddie Teare, treasury minister of the Isle of Man government, said: “Building partnerships is becoming increasingly important for the film and TV industry. Developing an investment strategy with an established partner which has an international reputation in film and television and in bringing production to the UK, will help the island to build further upon the success it has achieved in what is a growth sector for the world economy. It is a sector in which the Isle of Man must strive to build a presence.”