Persian broadcaster Marjan TV has agreed to a 15-year lease for the Wimbledon Studios site in the UK. Marjan will pay an annual rent of USD 1.6m to Panther Securities, which holds a 25% stake in the studio and owns the freehold of the 220,000 sq ft facility. By October this year, about 150 of […]
Persian broadcaster Marjan TV has agreed to a 15-year lease for the Wimbledon Studios site in the UK. Marjan will pay an annual rent of USD 1.6m to Panther Securities, which holds a 25% stake in the studio and owns the freehold of the 220,000 sq ft facility.
By October this year, about 150 of Marjan TVs employees are expected to move into the new facility.
Marjan operates Persian language channel Manoto 1, which is distributed via satellite across Europe, the Middle East and Iran and is currently based at Capital Studios in Wandsworth. According to the broadcaster, 60% of its programmes are original productions that are created in the UK.
It said the cost of changing it from a fixed-set filming location to a multi let studio was far more than anticipated and took longer to achieve than originally planned. Panther said it could no longer continue to support the non-core studios business as it did not believe it would reach profitability in the medium term and that it required significant funds.
Earlier this year, Marjan examined the possibility of sub-leasing part of the site from Wimbledon Studios, but entered direct negotiations with Panther after doubts emerged about the long-term future of the studios.
