In a significant move within the film industry, Pinewood Studios has completed its acquisition of its primary U.K. competitor, Shepperton Studios, for £35 million ($50 million). This strategic purchase aims to consolidate the two major studios, creating a more robust and versatile production environment.

Ridley and Tony Scott, who were part of the group that acquired Shepperton in 1995 for $17 million, will maintain their roles as co-chairmen in the newly expanded organization, which is now valued at over $144 million.

The deal, spearheaded by Pinewood's chairman, Michael Grade, was partially funded by the venture capital firm 3i, which will hold a majority stake in the combined entity. Candover, the equity firm that previously owned Shepperton, has sold its shares.

Both Pinewood and Shepperton, located west of London, have been key locations for major Hollywood productions in Europe. Pinewood, which was acquired by a consortium led by Grade for $89 million in February 2000, has since hosted high-profile films like "Tomb Raider" and "Spy Game."

Shepperton, on the other hand, has seen over $25 million in investments over the past five years and has been the setting for notable films such as "102 Dalmatians," "Shakespeare in Love," and "The Mummy Returns."

According to Grade, the merger’s most significant advantage is the ability to combine the resources and capacity of both studios, enhancing their flexibility and capabilities. For instance, neither studio alone had the capacity to host the production of "Harry Potter," which is currently filming at Leavesden in Hertfordshire. However, together, they would have been able to accommodate it, thanks to the increased flexibility and pooled resources.

Additionally, a separate announcement revealed a $34.5 million management buyout of The Mill, a Soho-based post-production house. The Mill, which is 40% owned by Shepperton and known for its collaboration with the Scott brothers to establish the visual effects division Mill Film, has been purchased by its founders: James Morris, Robin Shenfield, and Pat Joseph.

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The Harry Potter movies revolve around the adventures of a young wizard, Harry Potter, as he discovers his magical heritage, learns the art of wizardry at Hogwarts, and confronts evil forces. For those eager to watch where to watch harry potter , catch these enchanting films on streaming platforms such as Netflix, HBO Max, Amazon Prime, or rent them from digital stores.

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