A new studio project in the U.K. backed by Fulwell Entertainment, the company known for producing “The Late Late Show With James Corden,” has hit a roadblock as a major investor, Cain International, has pulled out of the Crown Works Studios project in the north of England. The reason for the withdrawal remains undisclosed.
The studios, announced last year, are planned to be constructed on the banks of Sunderlandâs River Wear, with the aim of generating thousands of job opportunities in the region. The project was projected to create around 8,000 jobs and cover a vast area of 1.6 million square feet.
While the U.K. government has allocated ÂŁ25 million ($34 million) towards the project and the local authority has committed ÂŁ120 million ($164 million), there still exists a significant funding gap that needs to be filled to bring the project to fruition.
In a statement to Variety, Fulwell Entertainment expressed their continued dedication to collaborating with the council to secure appropriate private funding that complements the government and local authority contributions required to establish these state-of-the-art production studios.
Fulwell Entertainment, which recently merged with LeBron Jamesâ SpringHill Company, brings together a talented team of individuals including Corden, Ben Winston, Leo Pearlman, Ben Turner, Gabe Turner, LeBron James, and Maverick Carter. The umbrella company, known as Fulwell Entertainment, also includes Jesse Collins Entertainment and operates from offices in Los Angeles, New York, London, and Sunderland, U.K. Their expertise spans across various content genres such as unscripted content, documentaries, live events, scripted TV and film, branded content, and commercials.
As the project faces challenges in securing funding, the team at Fulwell Entertainment remains optimistic about the future and is actively working towards realizing the vision of establishing world-class production studios in Sunderland.
