U.K.'S SHEPPERTON MOVIE STUDIOS AIDED BY TV

Britain's venerable Pinewood Shepperton studios, which has been hit hard in recent years by the declining dollar and fewer tax incentives -- making filmmaking in the U.K. more expensive for Hollywood studios -- has been able to partially offset stagnant film business by boosting TV production, the company said today (Tuesday). In a preliminary results statement, the studio group said that revenue from television operations grew 32 percent to $23 million. "Our strategy to diversity further into television has resulted in significant revenue growth from this activity, which increasingly will help to mitigate the effects of more volatile film revenues," studio chief Ivan Dunleavy said.

27/03/2007