Pinewood Group has announced it will close its studio facility in Cardiff in March 2020.
Following discussions with the Welsh government, Pinewood said it had decided to end its agreement to operate, manage and market the studio in Cardiff. The agreement will end on 31st March 2020.
Paul Golding, chairman of Pinewood Group, said the decision will allow the company to focus on its planned expansions of both Pinewood and Shepperton Studios.
“Pinewood is known across the world as a leading provider of studio space and the last decade has seen the value of film and television production in Wales more than double,” said Golding. “Wales now has a robust and mature market, with the three main studios in Cardiff currently running at capacity. Our decision will enable us to concentrate on our growth plans.”
Pinewood Group’s future plans include the expansion of its Shepperton Studios, making it the second largest studio in the world, as well as the completion of new stages at Pinewood Studios in Buckinghamshire.