Lights, cameras but very little action as ailing Ardmore struggles to survive
It has been the home of the Irish Film Industry for 50 years, but the end appears to be nigh for the struggling Ardmore Studios which is facing closure. A review of the studio's operations is now under way and "all options are being considered".
Though it was the site of such box-office smashes as Braveheart, The Field, The Tailor Of Panana, The Spy Who Came In From The Cold and many others, the studio is badly in need of redevelopment and has not attracted a major international film for several years. The lack of business has led to the Government having to prop it up in recent years.
Ardmore bosses, the Irish Film Board and the Department for the Arts have all confirmed that options are now being examined as what to do with the ailing studio, which has not produced a major picture since 2003. Included in those options is the possible closure of the studio.
Not one major picture has been made there during 2007, but the high-budget television series The Tudors, starring Jonathan Rhys Meyers, has been shot at Ardmore and has saved the studio from substantial financial losses.
Ardmore is owned by U2 manager Paul McGuinness and leading accountant Ossie Kilkenny, with the State retaining a 35 per cent stake. The Irish Film Board manage that stake on behalf of Seamus Brennan's department. However, it is now believed that McGuinness and Kilkenny are looking to sell out their shares, which may force the State to buy back into it or search for alternative owners.
Ireland long benefited from offering tax and financial incentives to film studios, which attracted significant large-scale productions to Ardmore. However, since the mid-1990s other European countries have followed suit, with many now offering more attractive packages than here.
If Ardmore is to have a future, studio boss Kevin Moriarty says a major rethink of the incentive structures needs to happen. He said Ireland is not just facing competition from eastern Europe, but now also from the UK, which has a more extensive incentive package than Ireland.
Mr Moriarty said yesterday: "We are operating in a highly competitive market now and it's not rocket science that if other countries are offering better terms, then we will lose out. A review is currently under way and all options are being examined. But we have a wonderful facility here, but there has been speculation over its future for many years."
Arts Minister Seamus Brennan has confirmed that he is awaiting the findings of the review and is open to all options at this stage.
Olivia Mitchell, Fine Gael spokeswoman on the arts, said: "Ardmore has had a significant place in Ireland's film production, and it is clear that something needs to be doneThe studio needs a massive injection of cash or a new studio may have to built from scratch. But the tax incentives certainly need to be looked at."
There has also been talk of the site being sold for redevleopment. One local estate agent valued the land at over €40 million.
- DANIEL MCCONNELL
