The company which owns Island Studios in Lezayre is to merge with an American online auction company.
Auctions International says it’s signed a Letter of Intent to merge with Rangemore Productions which operates the film studio.
The studio has been running for ten years and Auctions International says it makes around £8,000 a week depending on projects using its facilities.
In a statement, the company also says Rangemore’s management is in the process of reviewing a number of projects and joint ventures.
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