De Niro Seeks Studio Venture

Revelling in the success of his box office smash, Analyze This, Robert De Niro has teamed up with Miramax Films executives to consider a proposal to launch a high-tech film studio at the Brooklyn Navy Yards stateside. Final negotiations are now in session between the City Hall and the investment group, Deputy Mayor Randy Levine said Tuesday. The group wants $25 million in low-interest loans over a period of 40 years. Headed by De Niro, Harvey Weinstein, co-chairman of Miramax Films and Steve Roth of Vornado Realty Trust - the group plans to construct 240,000-square feet of sound stages equipped with fibre optic networks capable of transmitting live feeds via the Internet. "We hope to complete the deal over the next several weeks," said Levine. The Navy Yard - which closed in 1966 - is currently home to approximately 200 businesses employing 2,500 people. Just what lies in store for them has not yet been confirmed.