Rupert Murdoch's Twentieth Century Fox to Build Second International Film Studio in Australia

The Australian government has agreed to limited assistance for a proposed second international film studio, to be built by Rupert Murdoch's Twentieth Century Fox in Sydney. The studio, which will cost $20 million to build, will include three sophisticated sound stages and modern pre and post-production facilities. It is expected to produce at least three international feature films a year for Fox, as well as Australian films and TV shows. This move is seen as a significant boost to Australia's film industry, which has enjoyed international success in recent years with hits such as Strictly Ballroom, The Piano, and Muriel's Wedding.

Key Takeaways:

• Twentieth Century Fox will spend $20 million building Australia's second international film studio, likely in Sydney.
• The studio will include three sophisticated sound stages and modern pre and post-production facilities.
• The studio will produce at least three international feature films a year for Fox, as well as Australian films and TV shows.
• The Sydney Showground is the frontrunning site for the studio, subject to discussions with the New South Wales Government.
• The Federal Government has agreed to help with the preparation of the site and its development.
• The studio will also produce shows for News Corporation's Asian satellite broadcasting venture, Star TV.
• Fox has already started a $US20 million film, The Mighty Morphon Power Range, in Sydney next week, and plans to make a $A56 million film in north Queensland by the end of the year.
• The Australian film industry has enjoyed international success in recent years, including hits such as Strictly Ballroom, The Piano, and Muriel's Wedding.
• The studio will help to reduce production costs for Australian filmmakers compared to Hollywood.
• The Victorian Government is keen to attract major facilities and events to Victoria and may compete with Sydney for the studio.

Statistics:

• $20 million: cost of building the second international film studio in Sydney.
• $US20 million: budget for the film, The Mighty Morphon Power Range.
• $A56 million: budget for a planned film to be made in north Queensland by the end of the year.
• 3: number of sound stages to be included in the studio.
• 1: number of existing international studio in Australia, Warner Brothers' Gold Coast complex.
• 7: number of films mentioned as recent international hits made in Australia, including Strictly Ballroom, The Piano, and Muriel's Wedding.

Sources:

• "Prime Minister Mr Keating's Cultural Policy Speech"
• News Corporation annual general meeting, Adelaide, speech by Mr Rupert Murdoch
• "The Mighty Morphon Power Range" film production announcement