SALE MEANS ‘NEW ERA FOR ARDMORE’

Beth Nic Aoidh and Abbie Kinsella admiring the little Easter chicks which arrived on Monday in the window of Anvil in Bray.

THE CEO of Ardmore Studios Siún Ní Raghallaigh said that its sale is ‘a very positive development for everybody associated with Ardmore and for the broader production sector in Ireland.’

Joe Devine, chairman of rival Troy Studios in Limerick, led the acquisition by Olcott Entertainment, which currently operates Troy Studios.

‘We have ambitious plans for the business and believe this heralds a new era for these historic studios,’ he said, adding that Olcott plans to retain Ardmore’s employees.

Meanwhile, Deputies Pat Casey and John Brady have both said separately that the Government has reneged on promises to keep Wicklow TDs and Wicklow County Council informed of any sale of the Enterprise-Ireland-held 32 per cent share.

‘It’s a relief to see that the studios have not been sold to a developer,’ said a film production professional, who preferred not to be named. ‘Around five people are directly employed by Ardmore, but hundreds more work there on productions each year.’ Ms Ní Raghallaigh will remain as CEO.

The purchase price is not being disclosed.

CEO of Ardmore Studios Siún Ní Raghallaigh said that its sale is ‘a very positive development for everybody associated with Ardmore and for the broader production sector in Ireland.’

Joe Devine, chairman of rival Troy Studios in Limerick led the acquisition by Olcott Entertainment Limited, which currently operates Troy Studios. ‘We have ambitious plans for the business and believe this heralds a new era for these historic studios,’ he said, adding that Olcott plans to retain Ardmore’s employees.

Ms Ní Raghallaigh will remain as CEO of the company, it was confirmed in a statement this week

‘Olcott has ambitious plans to invest in and to develop the facilities in Ardmore, which will ensure that it will continue to compete at the heart of the international film and TV production market,’ she said.

‘It’s a relief to see that the studios have not been sold to a developer,’ said a film production professional, who preferred not to be named. ‘Around five people are directly employed by Ardmore, but hundreds more work there on productions each year.’

Olcott has acquired the full share capital of Ardmore Studios International Ltd (which owned 68 percent of the share capital of Ardmore Studios Limited) and the acquisition of a separate shareholding in Ardmore which was owned by Enterprise Ireland.

The purchase price is not being disclosed. ‘Our interest in the sector is against a backdrop of significant global demand for content and thus for production facilities,’ said Mr Devine. ‘ The drive for more content is fuelled by “big screen” film, increasingly “on demand TV” and the gaming industry,’ he said.

‘When coupled with Ireland having one of the more attractive incentive schemes in the world, it makes Ardmore an attractive asset.’

The Irish Film Board said: ‘It is very heartening to hear about the commitment of the new owners to their investment in and the development of these historic studios.’

However, both Deputy Pat Casey and Deputy John Brady have criticised the government for breaking its commitment to keep local TDs and Wicklow County Council informed about any decision regarding its share of Ardmore.

‘Since the Government made its ill-judged decision to sell its 33% shareholding in Ireland’s most iconic film studio, there has been a cloud over the future of the studio,’ Deputy Casey said. ‘ The workers and the businesses that are central to the film industry in Wicklow have all reported to me of a significant reduction in upcoming productions or even forward planning for productions at Ardmore.’

Zoning restrictions by Wicklow County Coun- cil prevent residential building on the site.

‘It came as a surprise to many back in October 2016 when Ardmore Studios was put on the market to be sold as a going concern,’ said Deputy John Brady.

‘Despite being in regular contact with the relevant Ministers, Departments and Enterprise Ireland since October 2016, the sale of the State’s shares was never made known,’ said Deputy Brady. ‘ This is totally unacceptable especially when all parties had committed to keeping the public informed.’

Ardmore Studios was established in 1958 and is the only studio in Ireland to offer seven international standard sound stages with full support facilities on site.

It has been home to hundreds of international and national films and TV productions over the years including Braveheart; My Left Foot; Excalibur and, in more recent times, The Tudors; Moone Boy and Penny Dreadful.

Productions at Ardmore have received 14 Oscars and many BAFTA, Golden Globe and Emmy awards. Ardmore is currently home to a number of productions including US TV series Into the Badlands, RTE’s Dancing with the Stars and feature films The Rhythm Section and The Turning. Ardmore has benefited from a significant investment programme in recent years to enhance its facilities.