Pinewood: Going, Going, Gone

Former Channel 4 boss Michael Grade has succeeded with his second bid to buy the famous Pinewood Studios. The sale of the West London studios marks the second big divestment of the week by entertainment group Rank, who announced yesterday that they had sold Odeon Cinemas to the venture capitalist company Cinevan. The studios had been part of the Rank Organisation since its inception in 1936. Grade takes the position of Chairman at the studios. In a statement today, he said,