Solar Entertainment Group (SEG) has teamed up with local real estate businessman Dragos Savulescu to launch a new film studio in Bucharest, according to cinema news site Screen Daily. The venture will be called Solar Studios and be located at the former premises Kentauros Studios, which Savulescu recently bought.

SEG is headed by Jared Underwood and Bobby Paunescu (in picture), who also owns and leads Bucharest based Mandragora Studios. The two studios will work in partnership to offer clients a wider range of film production services, feature, television series, commercials and music videos production. The partners in venture claim that together, Mandragora and Solar Studios will offer “the most complete, full-service studio in Eastern Europe,” according to Screen Daily.

“The formation of Solar Studios represents an important milestone in the development of our company,” said Paunescu, quoted by Screen Daily. The cost effectiveness and the expertise and experience of local film crews were again quoted by representatives of the group. Variety magazine has previously featured Romanian film studios, including Mandragora, and their ability produce films at a fraction of the cost found in North America or Western Europe.

“Solar Studios will take advantage of the highly skilled Romanian crews, locations, labor and impressive set constructions at a fraction of a typical North American budget,” said cinematographer and producer Viorel Sergovici, who will run day to day operation at Solar studios, quoted by Screen Daily.

No figure for investment was given, but via the deal, Dragos Savulescu becomes an SEG stakeholder, joining London-based merchant bank LJ Group founder Edward Lawson Johnston, the New York-based Shu family, Bobby Paunescu and Jared Underwood, according to Screen Daily.

Paunescu has been involved as a financier, producer, writer, director, or distributor of 12 feature films, including the recent competition film in this year’s Cannes Film Festival, Beyond the Hills. He is also a media owner, controlling newspaper Evenimentul Zilei and weekly Capital.

Nearly ten years ago, Hollywood film Cold Mountain, starring Jude Law and Nicole Kidman and set during the American Civil War, was filmed in Romania. Since then, a steady stream of productions have come to Romania to film, including the recent hit series starring Kevin Costner and Bill Paxton ‘Hatfields & McCoys,’ as well as the film ‘What About Love’ starring Sharon Stone and Andy Garcia. Cristian Mungiu's După dealuri/Beyond the Hills , which picked up the best actress prize at Cannes last year, used Mandragora Studios' services during production.

editor@romania-insider.com

(photo source: Mandragora Studios)