Seven sells its half of Melbourne studios to NEP Australia
The Seven Network has sold its remaining 50 per cent stake in the Media City Melbourbe studios, where shows including Dancing with the Stars and Million Dollar Minute are filmed, to NEP Australia.
The release:
NEP Australia (formerly Global Television) has acquired the Seven Network’s 50 per cent share in Coventry Street Properties, owner of the Media City Melbourne (MCM) television studio complex.
This means NEP now fully owns the production facility at 55 Coventry Street, Southbank, which is currently home to shows including Dancing with the Stars, Million Dollar Minute,Family Feud and Fox Footy Channel programs.
Independent producers such as Endemol Australia, FremantleMedia Australia, Roving Enterprises and Shine also use the NEP-operated studios and facilities.
The Seven Network will remain an important client with a multi-year commitment to continue productions at MCM.
NEP Australia CEO Keith Andrews said: “NEP is always exploring options to grow our business and further engage with the local television production community. As with our recent purchase of Silk Studios in Sydney, we are committed to owning and operating studios, and assuming full ownership of Media City Melbourne complements that strategy. We have enjoyed a successful working relationship with Seven and look forward to continuing to service Seven Network productions while also seeking to further diversify MCM’s client base.”
Mr Andrews added the latest phase of MCM enhancements would be complete in mid-January, with the upgrade of all internal technical facilities and the existing studio control room to High Definition.
Background
The Media City Melbourne complex was originally the Seven Network’s studio operation in Melbourne. Channel Seven Melbourne Pty Ltd and Global Television Services Pty Ltd (now NEP Australia Pty Ltd) formed a joint-venture (Coventry Street Properties) to redevelop and operate the studios in 2006, investing several million dollars over the past decade. MCM plays an important role in the production of Australian television content and is Victoria’s leading independent TV production facility, accommodating free-to-air and subscription broadcasters, and independent production companies. The studio site is on a long-term lease (until 2080) from Dorcas Business Park Pty Ltd.
Source: Fearnace Media press release
