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Pinewood profit could be spent on more films

Update due on Media Development Fund

Money held in the Manx government's media development fund may be allocated to other projects once its deal with the Pinewood Group ends next year.

Word on the plans came from Treasury Minister Alf Cannan in Tynwald earlier this week.

However, while endorsing support for the media industry, he told the court 'all options would be considered' once the balance of the fund is known.

The government recently made a £10.1 million profit by selling its shares in Pinewood.

However, critics, led by South Douglas MHK Kate Beecroft, say the shares must not be looked at in isolation.

The media development fund is managed by Pinewood and 'ringfenced' to provide support for Manx-shot movies and television shows.

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