Castlepoint Numa sells stake in Pinewood Toronto Studios to Bell Media

Cars and trailers sit parked outside stage 4 at the Pinewood Toronto Studios film and television complex in Toronto, Ontario, Canada on Wednesday, Aug. 23, 2018. , Hannah Yoon/Bloomberg

The Canadian Press

Nov 12, 2020

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TORONTO - Castlepoint Numa Inc. says it has sold its minority interest in Pinewood Toronto Studios to majority shareholder Bell Media.

Financial terms of the sale were not disclosed.

Castlepoint invested in Pinewood Toronto in 2009 in the wake of the financial crisis.

Bell Media exercised its right to buy the shares through a right of first offer.

Pinewood Toronto has 11 sound stages in the Port Lands area southeast of the city's downtown near Lake Ontario.

Major construction began today on an expansion that will add five new sound stages as well as additional office and support space.

BNN Bloomberg is a division of Bell Media, which is owned by BCE.