The Isle of Man Government has acquired a substantial shareholding in the British film studios Pinewood Shepperton. It has invested more than £12 million in return for a shareholding of just under 10% in Pinewood Shepperton, famous for film productions such as the James Bond series.

The Isle of Man has built a reputation in the film industry in recent times resulting in some one hundred film and TV projects investments since 1995 as part of a strategic programme to attract film production to the Isle of Man. This latest move is seen by the Isle of Man's parliament Tynwald as a way of securing future investment opportunities and to capitalise on the distribution rights in films and television projects. The Treasury Minister for the Isle of Man Eddie Teare stated that he believes the acquisition of shares in Pinewood Shepperton will build on the Isle of Man's reputation and success in an industry which has delivered significant benefits for the Manx economy in recent years.

Comment

The investment in the film industry is part of the Isle of Man Government's strategic diversification which is seen as crucial to future growth of the Isle of Man. In recent times the Isle of Man has made significant advances in the space industry, aircraft registration and attracting e-gaming business to the Island. The Island's economy is not in recession and this latest move should ensure the Isle of Man remains in the forefront of offshore finance centres.

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