Pinewood in German JV deal

Film studio group Pinewood Shepperton yesterday said it had secured a deal with German firm Studio Hamburg to operate production facilities in Hamburg and Berlin. The joint venture, to be named Pinewood Studio Berlin Film Services, aims to target between two and four German films per year, with budgets in the region of between €5m (£4.3m) and €50m. It will own a total of 10 sound stages across the two cities. The two companies will pump equal amounts of capital into the venture, expected to be around €0.5m.