APX Group, headquartered in New York, Los Angeles and London Film, Media and Entertainment Fund Owned by a group of private financiers from the US, Italy, Spain and the UK, has acquired a 50% stake in the London-based Twickenham film studio, which includes work in italybeatles feature hard day night, Bohemian Rhapsody, iron lady and Elizabeth: The Golden Age was made.
A price tag was not disclosed.
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The action is as follows latest news Businessman Sunny Vohra, chairman of Twickenham Film Studios, bought a 6.95% stake in APX. The stake deal, which marks APX’s market capitalization at 950 million pounds ($1.14 billion at Thursday’s exchange rate), is led by Chief Executive Shelley Hammond and is scheduled to open in New York later this year, the company said. Public listing on the stock exchange.
The acquisition of Twickenham is the latest addition to the APX studio network. In recent months, APX Group has acquired a large stake in Next Wave Studios, a joint venture between Leo Matchett and Roman Coppola’s Decentralized Pictures and Stephen Murray’s Bingeable, and Burning Wheel’s development board.
“As part of the acquisition, APX Group will rebrand its global studio network under the name Twickenham Studios,” the company said. “The parties have also agreed to accelerate expansion plans to acquire further studio-suitable studios and land in Europe and the US, all under the iconic Twickenham Studios brand.”
Twickenham Films Studios’ board will now include two members nominated by APX.
In recent months, APX Group has acquired a large stake in Next Wave Studios, a joint venture between Leo Matchett and Roman Coppola’s Decentralized Pictures and Stephen Murray’s Bingeable, and Burning Wheel’s development board.
Shelley Hammond, APX Global Chief Executive, said: “As CEO, I have set our Group’s aim to expand our production network into new geographies and to complete a successful public merger. Twickenham Film Studios is A cultural institution of filmmaking, it will thus be a jewel in our production portfolio. The work accomplished in the studio’s more than 100 years of active life is groundbreaking.”
Vohra added: “About 10 years ago, a group of like-minded film lovers and I saved Twickenham Studios from liquidation and demolition. We are now all looking forward to expanding and growing globally.”
APX also said on Monday it had entered into an agreement with Twickenham Film Studios to “continue to provide a substantial bonus and incentive package to all Twickenham Film Studios staff.”