With Studio City Toronto now under the banner of Canadian production equipment rental giant, William F. White International, after a fierce bidding war, the race to acquire and own soundstage space is hotter than ever. Blake & Wang P.A entertainment lawyer, Brandon Blake, takes a closer look at this new deal.
Undisclosed Deal
While the precise terms of the deal have not (yet) been made public, the iconic studio complex that has hosted pictures as varied as Spotlight and My Big Fat Greek Wedding over its long history is reported to have launched a bidding war for its 148,000 square foot space. With this acquisition, William F. White International now owns a whopping 1.55 million square feet of production space across Canada. This also brings Studio City Rentals under their banner, too.
Built in 1988 and once part of Showline Studios, the complex was acquired by the City of Toronto in 2017. In 2018, it was allocated to Studio City Rentals under the new name, Studio City Toronto, with three new soundstages commissioned.
Production Space Wars
We’ve seen demand for soundstage space soar this year, both as streaming demands put production cycles into hyperdrive and as the need for cost-effective filming solutions to combat the effects of inflation on the entertainment market rise. Canada has become a popular filming destination over the past year, too, with appealing tax incentives and proximity to the US both making it a sought-after destination.
While this may be a near-historic location, we’ve also seen a studio construction boom hit both Toronto and Vancouver, with over $1.5B of new investments under development. It’s certainly a positive space to be in at the moment, and it will be interesting to see these revamps and new developments unveiled over the next few years.
Film and Television 