Facilities House Air Moves Into Production Space
Air Studios has unveiled plans to get into the content creation business. To this end, it has reorganized its business under the name Air Entertainment Group (AEG).
Within this group will be Air Studios, Air Post Production, Air Management, Air Mastering, Strongroom Studios and Strongroom Hire. In addition, the company will now seek to raise capital to underpin its move into the production business.
The move is being accompanied by some important personnel changes. Air MD Richard Boote is becoming chairman, which makes way for Paul Woolf to come in as chief executive. In addition, former HandMade Films CEO David Ravden has come in as development and finance director (and also as an equal partner in the business).
AEG is planning to use its existing assets as collateral for raising production and development funds. However it is also in the fortunate position of being able to link up with production partners by offering production services in return for creative participation or rights. While this would only really work as an interim measure, it would give AEG the chance to move quickly into the production space.