Sign up for our free elert here. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. TPGs purchase of Cinespace is not an outlier, but part of a larger trend, thanks to a nationwide shortage of available stage space due to the onslaught of projects demanded by streaming services. A press release from TPG says former Netflix executive Eoin Egan will take over as a co-managing partner and COO. Cinespace Chicago Film Studios is a family-owned company specializing in the development, management, and operation of studio space and support facilities for the film, television, and digital media production industry. A TPG official, Keith Gee, will be chief financial officer and the other co-managing partner. All Rights Reserved. The indie studio operator was founded by the Toronto-based Mirkopoulos family in 1988, and the Chicago campus was launched in 2010. One of the projects launched under Pissios tenure is a pipeline program called CineCares. We have been studying the content creation and production landscape as an investment theme for a few years, and in that time have developed a relationship with the family behind Cinespace. This timely and provocative drama is set against the systemic abuse that exists in some of our country's most vulnerable communities. Cinespace Chicago Film Studios, the second-largest film studio outside of Los Angeles in North America, is pleased to welcome several new productions to its growing campus as the Studios continue to strictly follow health and safety best practices from the CDC and Illinois Guidance. We are thrilled to have the opportunity to expand on their vision by building a best-in-class studio platform that serves the creator community and drives job growth in Toronto, Chicago, and beyond, continued Jacob Muller, Managing Director at TREP. Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller.
Jane Williamson joins Cinespace as Head of Studio Operations Cinespaces flagship studio campus on Kipling Avenue in Toronto has played host to shoots for Reign, Beauty and the Beast, Goon: Last of the Enforcers and 12 Monkeys. The two are not related. Cinespace Chicago Film Studios, the second-largest film studio outside of Los Angeles in North America, is pleased to welcome several new productions to its growing campus as the Studios. Every dime we make fundsreportingfrom Chicagos neighborhoods. Egan and Gee are accomplished executives who have significant experience building and scaling businesses. What you need to live your best life now. 415-743-1550, Internet Explorer presents a security risk. Cinespace, the studio that is home to Chicago-based film and TV productions including "Chicago Fire," has been sold to the real estate arm of TPG, a buyout firm based in Texas and California, the two companies announced Friday. The CineCares Foundation aims to empower Chicago residents in these communities by creating opportunities for education and employment in the TV and film industry. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. Keep up to date with our latest industry news, from across the world.
Cinespace Chicago Film Studios Being Sold For $1 Billion Pissios cooperation earned him a non-prosecution deal with federal prosecutors on fraud charges tied to his 2011 personal bankruptcy.
TPG is investing in two of the most stable and sought-after filming jurisdictions in the world, and we are excited to see Cinespaces continued growth and success with TPG.. Pissios was not able to disclose the terms of the deal, but it is understood from a source close to the transaction that TPG paid around $1.1 billion for Cinespace Studios in Chicago and Cinespace Toronto. Sign up for our Eat. Launched in Chicago in 2010 by the Pissios family, Cinespace Chicago operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres near Douglass Park. Cinespace furthers their vision to build a premier global production platform Reel Chicago News Cinespace Studios announced a series of key leadership changes at Studio Babelsberg, a leading German film studio majority owned by Cinespace. CineCares Foundation, which was founded by Cinespace Chicago, aims to provide job training and education in the TV and film industry to underserved communities. For more information, visit www.tpg.com. I look forward to seeing Cinespace and the entire film sector in the city with all the jobs that rely on it continue to grow over the coming years.". Your pleasant demeanor, warm smiles, and bigger-than-life personality will be sorely missed on campus. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing partners and COO and CFO, respectively. Keep up to date with our latest industry news, from across the world.
Cinespace Chicago adds 100K sq. ft. of production space as filming One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry. They have been the source of incredible Canadian content and a steady job creator for the City and Province. Ashlee Rezin Garcia / Sun-Times Alexander S. Pissios, president of Chicago's largest movie studio, had gone bankrupt but was still more than $1 million in debt when federal agents showed up three years ago. Federal authorities made secret recordings at Cinespace Chicago Film Studios as part of an investigation into a Teamsters union boss who last month was charged with extorting the business, the . In TPG, weve found a partner who loves our great city of Toronto, respects Cinespaces heritage and tradition of philanthropy, and has the expertise and resources to help lead the company into its next phase of growth, said Steve Mirkopoulos, president and CEO of Cinespace Toronto. You can accept the use of cookies or other identifiers by closing or clicking the accept button. The Hollywood Reporter is a part of Penske Media Corporation. Box Office: Michael B. Jordans Creed III Grabbing Title With Series-Best $51M Opening, Lionsgate Dealmakers Michael Burns, Brian Goldsmith Extend Contracts, Jefferson White, Adeline Rudolph Join Hellboy Movie The Crooked Man, Jonathan Krisel in Talks to Direct Pokmon: Detective Pikachu Sequel, Zedd's Striking Beverly Hills Mansion Finally Sells to Kenya Barris, Jennifer Lopez Lists Bel Air Mansion for $42.5M Complete With an Outdoor Amphitheater for Home Concerts, John Malone and Charter Directors Reach $87.5M Deal to Settle Investor Suit, Rupert Murdoch, Fox Corp. Sued For Sharing Bidens Presidential Ads Before They Aired, Paramount Will Pay $122.5M to Settle CBS-Viacom Merger Lawsuit, A24 Buys Off-Broadways Cherry Lane Theatre, Pay TV and Cable Providers Lost 5.8M Subscribers in 2022, Star Hairstylist Jen Atkin Reveals Must-Have Hair Tools, Tutorials and Pro Tips In New MasterClass, Rihannas Puma x Fenty Is Coming Back Heres Where You Can Still Buy Those Cult-Fave Creepers, The Best Bridesmaid Dresses for Every Budget, From Under-$100 Gowns to Hollywood-Inspired Classics, BTS Army: Heres When and Where Legos Dynamite-Inspired Set Arrives Online and In Stores, The Big Lebowski Turns 25: People Didnt Get It, Jeff Bridges Recalls, How the Landscape of Native-Led Stories Has Changed Between Avatars: Were Flexing Our Sovereignty, The Definitive Voice of Entertainment News. News about the Studio and Production Facility Industry | Cinespace News and industry updates about Cinespace, as well as the entire industry devoted to filming locations, production facilities, and studio space. Terms of the transaction were not disclosed.
Ald. Michael Scott Jr. resigning from City Council, joining Cinespace The story centers around four 12-year-old girls who deliver newspapers. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . Cinespace Toronto has 23 production stages across the city, with another 12 stages planned for development on more than 40 acres. The comic book series will bring a lot of excitement to the small screen exploring everything from time travel between different centuries, future versions of characters, and the question of whether or not the past can or should be changed by time travelers. Stay on top of the latest film, TV, advertising, entertainment and production news! The productions will bring more than 200 300 new jobs per show to the campus and play a vital role in resurrecting the television and film industry in Chicago.
TPG Real Estate Acquired Cinespace Studios In Chicago And - Deadline "During this pandemic, I think we all had a chance to experience how essential quality shows are to our culture and even to our mental health. In TPG, weve found a partner who loves our great city of Toronto, respects Cinespaces heritage and tradition of philanthropy, and has the expertise and resources to help lead the company into its next phase of growth, said Steve Mirkopoulos, President and CEO of Cinespace Toronto. It was a stunning rebuke. Do. Email Newsroom@BlockClubChi.org. To ensure the most secure and best overall experience on our website, we recommend the latest versions of.
About Us Locations CineCares News Contact Cinespace Chicago Cinespace Toronto Studio Babelsberg Cinespace We're the perfect partner for your next production. Cinespace Chicago specializes in the development, management and operation of studio facilities, now home to the Dick Wolf One Chicago franchise of Chicago Fire, Med and P.D., The Chi, Lightyears,61stStreet,Power Book IV: Force, Paper Girls, South Side, andThe Big Leap. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. Masking, social distancing, and capacity limits in public and workplaces continue to be enforced at Cinespace Chicago Film Studios for the health and safety of staff and all production workers. To learn more, please refer to the cookie policy. They will find no better place in Canada to do business and we are excited and confident in the future of Cinespace., Toronto Mayor John Tory added: "Toronto continues to be a leader in film and TV and that has been made possible through investments from leading companies who see the value and potential in our city and our residents. // Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. The film operation at The Fields would be a smaller version of the Cinespace Chicago Film Studios campus on the West Side, where TV shows and movies are filmed and produced.
Sources: Feds made recordings at Cinespace Chicago - Chicago Tribune and Cassels Brock & Blackwell LLP served as legal counsel to Cinespace. The bar will host a flip cup tournament, trivia nights and, of course, a St. Patrick's Day bash. Cinespace Studios, which helped spark a boom in movie and television production in Chicago, has been sold to a private equity firm that tapped a former Netflix executive to lead the operation on Chicago's West Side. In 2019, film and television productions generated $560 million in revenue and created more than 15,000 jobs in Illinois, before operations screeched to a halt during the COVID-19 pandemic. He was so successful in this endeavor that CineCares created 7,500 new jobs. Zach Long. Skoronski is productive: in three seasons as Northwesterns starting left tackle, he allowed just five sacks in 2,364 snaps.
Key developments evolving in sale of Brauer Museum artwork by Valparaiso University, Its Chicagos fake birthday: Here are 30 essential foods and drinks to celebrate, from Rainbow Cone to Malrt, Carol Stream man, 35, dies in custody at Cook County Jail, officials say, Do Not Sell/Share My Personal Information. Terms of the deal were not disclosed, but its understood from a source close to the transaction that the real estate equity investment arm of asset firm TPG paid around $1.1 billion for Cinespace Studios in Chicago and Cinespace Toronto. According to the news release, TPG plans to expand upon the program, but did not provide further details. On a personal note, the Chicago film community, the recipients of the CineCares Foundation, the Pilsen neighborhood, and the City of Chicago, owe a huge debt of gratitude to Uncle Nick Mirkopolous, Alex Pissios, and the entire Mirkopolous family for having the foresight, determination, talent, expertise, faith, and vision to raise up the Chicago film industry when others have tried and failed. [CDATA[
Cinespace Studios has sold for $1.1B to TPG Real Estate - ReelChicago.com Based on the comic book series by Brian K. Vaughan,Paper Girls is an Amazon series created by two studios, Legendary Television and Plan B, and written by Stephany Folsom, who previously worked onToy Story 4andThor: Ragnarok. Got a story tip? Cinespace Chicago Film Studios welcomes several new productions to its growing campus.. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities.. Today's news is good news for Cinespace Studios, our city, and our thriving film sector. The Midwest's production hot spot recently added another 105,000 square foot industrial building near its main campus to expand its footprint and bring more stages online for the busy content creation industry. The Cinespace brand is recognized.
Cinespace Studios Sold to Private Equity Firm | Chicago News | WTTW By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. Force is set on Chicago's South Side and stars Chicago Northwest Side native Joseph Sikora and also welcomes Anthony Fleming (Prison Break) and Lucien Cambric (Chicago PD) to the show. On Friday TPG Real Estate Partners, the real estate arm of the private equity firm TPG, announced plans to acquire Cinespace, the family-run business where the Dick Wolf shows for NBC film. In true business news nerd fashion, I wanted to find a Valentine's Day angle . New production scheduled to film at Cinespace Chicago Film Studios this spring includeLightyears,61stStreet,Power Book IV: Force, and Paper Girls. Masking, social distancing, and capacity limits in public and workplaces continue to be enforced at Cinespace Chicago Film Studios for the health and safety of staff and all production workers. Lightyearswill premiere exclusively on Amazon Prime Video. The studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. Founded by the Mirkopoulos family in Toronto together with the Pissios family in Chicago, Cinespace specializes in the development, management, and operation of studio space and support facilities for the film, television, and digital media production industry. Cinespace also has a significant presence in Toronto. TPGs investment will expand these efforts and provide more jobs for Illinois, one of the many reasons why we feel they are the right fit to take on the business, continued Alex Pissios, President and CEO of Cinespace Chicago. Block Club Chicago is a nonprofit news organization dedicated to . The productions will bring more than 200 300 new jobs per show to the campus and play a vital role in resurrecting the television and film industry in Chicago. person to lead the city, failed to advance to a runoff, earning just 17 .
Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. I look forward to partnering with TPG to continue growing this critical industry and seeing what Illinois talent and infrastructure inspires in creatives across our state., Chicago Mayor Lori E. Lightfoot continued: "Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes. You can accept the use of cookies or other identifiers by closing or clicking the accept button. Subscribe to Block Club Chicago,an independent, 501(c)(3), journalist-run newsroom. Eoin Egan, who served as the head of production services at Netflix, will serve as the chief operating officer of Cinespace, officials said. I am thrilled to see this acquisition expand our capability for content creation, Lightfoot said. Cinespace intends to continue growing its studio base following the transaction.
1448 S Rockwell St Chicago, IL 60608 - Alquileres en Chicago, IL For 10 years, the majority of TV and movie projects in Chicago have been filmed at Cinespace Chicago Film Studios, the soundstage complex in North Lawndale. The film studio's sale is expected to accelerate the growth of Chicago's film industry and bring more production jobs to the area, new owners said. Follow Your Favorite Chicago's Afternoon News Personalities on Twitter:Follow @SteveBertrand Follow @kpowell720 Follow @maryvandeveldeFollow @LaurenLapka I am thrilled to see this acquisition expand our capability for content creation and look forward to the jobs and production it will bring to our region.. Separately, plans were announced in May for a $60 million soundstage project on the South Side spearheaded by film producer Derek Dudley and Loop Capital Chairman and CEO James Reynolds Jr. That studio, if it comes to fruition, will be called Regal Mile Studios and be located in the vicinity of South Stony Island Boulevard, East 77th Street and South Chicago Avenue.