U.K. blocks Pinewood expansion plan

LONDON -- A mere nine days after U.K. Prime Minister David Cameron visited Blighty's Pinewood Shepperton Studios, the government has rejected the studio's proposed expansion plans dubbed Project Pinewood.The 200 million ($309 million) proposal, which was initially unveiled in 2007, planned to double the size of Pinewood Studios, and envisaged creating more than 1,400 homes, offices and permanent film sets replicating destinations such as NY's Tribeca neighborhood and Montmartre in Paris. In a statement, Pinewood said it was "disappointed by today's decision by the secretary of state for communities and local government," and added that the company would "take time to review the decision in detail."Shares in Pinewood-Shepperton have fallen 7.5 pence (11.6 cents) to 265 pence (409.8 cents) -- some 6% -- since the planning application was rejected. The proposal has met its fair share of opposition from residents near the studio, and the South Buckinghamshire District Council, which rejected the plans initially. In July, Brit real estate, transport and infrastructure investment company Peel Holdings completed a takeover of the Brit studios, upping its ownership to 71.1% of its stock. Pinewood Shepperton, which has housed the lensing of pics such as Martin Scorsese's "Hugo," the "Harry Potter" franchise and upcoming Ridley Scott pic "Prometheus," said it would "continue to implement its master planning consents at Pinewood and Shepperton studios and pursue its international strategy of developing studios overseas." Contact Diana Lodderhose at diana.lodderhose@variety.com