InvestSMART

Nine's studio deal a winner

CHANNEL Nine emerged yesterday as the big winner from a recently announced government-funded $10 million upgrade to Docklands Studios Melbourne, after signing a five-year deal to move its audience-based production to the complex.
By · 26 Oct 2010
By ·
26 Oct 2010
comments Comments
CHANNEL Nine emerged yesterday as the big winner from a recently announced government-funded $10 million upgrade to Docklands Studios Melbourne, after signing a five-year deal to move its audience-based production to the complex.

Jeff Browne, executive director of Nine, said the network would begin filming productions including Millionaire Hot Seat, The Footy Show and, if it returns, Hey Hey Its Saturday at the Docklands complex from January.

Nine has signed a lease to occupy studio 4 for the entire year, while the smaller studio 5 undergoes modifications designed to make it capable of hosting multiple productions simultaneously. When the works are completed, Nine will move its audience-based productions into that studio.

Studio production is something which is part of the DNA of GTV-9, Mr Browne said.

That history and that tradition now continues in this wonderful new facility.

The move is good news for the complex, which has been fairly busy this year with television work for all three commercial networks but has struggled to attract high-value foreign film productions because of the strength of the Australian dollar.

A long-term tenancy will bring steady cash flow to the studio, which was built by a private consortium in 2001 but is now owned by the state. At one stage, serious consideration was given to Tens long-running soapie Neighbours relocating to Docklands, but that fell through.

A Nine insider said the network had been scouting for studios for about two years, since the sale of its huge complex in Bendigo Street, Richmond, was first proposed. The site was sold in April to developer Lend Lease for a reported $50 million. Nine will begin moving to its new home at 717 Bourke Street in Docklands from December.

Nine will have two small studios at its new Docklands office complex, but neither can accommodate a live studio audience. One of those studios will be used to film its news and A Current Affair, while the other is a multi-purpose space.

Mr Browne said that one of the alternatives management had considered was to move audience-based production to other cities.

But with this facility and the support of the government, weve been able to not only maintain what we have but to look to build that significantly over the next few years, he said.

Mr Browne said the personal commitment of Innovation Minister Gavin Jennings was very instrumental in completing the deal for us.

Google News
Follow us on Google News
Go to Google News, then click "Follow" button to add us.
Share this article and show your support
Free Membership
Free Membership
InvestSMART
InvestSMART
Keep on reading more articles from InvestSMART. See more articles
Join the conversation
Join the conversation...
There are comments posted so far. Join the conversation, please login or Sign up.

Frequently Asked Questions about this Article…

Channel Nine signed a five-year deal to move its audience-based productions to Docklands Studios Melbourne. The agreement follows a recently announced government-funded $10 million upgrade to the complex.

Nine plans to begin filming audience-based programs at Docklands from January, including Millionaire Hot Seat, The Footy Show and, if it returns, Hey Hey It’s Saturday.

Nine has leased studio 4 for the entire year. Studio 5 will be modified to host multiple productions simultaneously, and once works are completed Nine will move its audience-based productions into that studio.

Nine will base itself at 717 Bourke Street from December and have two small studios there. Neither studio can accommodate a live studio audience; one will be used for news and A Current Affair and the other as a multi-purpose space.

The $10 million upgrade helps modernise the facility and, coupled with Nine’s long-term tenancy, is expected to bring steadier cash flow to the state-owned complex—positive news for the studio’s financial stability.

Nine had been scouting for studios for about two years after plans to sell its large Bendigo Street, Richmond complex were proposed. That Richmond site was sold in April to developer Lend Lease for a reported $45 million.

The upgrade and a long-term tenancy are positive steps, but the article notes Docklands had struggled to attract high-value foreign film productions because of the strength of the Australian dollar. The deal should strengthen the studio’s domestic workload and cash flow.

Innovation Minister Gavin Jennings was credited with a personal commitment that was described as very instrumental in completing the deal for Nine.