Just as The Avengers begins its principal photography a potential hiccup as the owners of Albuquerque Studios which will be home to many of the non-location shots of the film, has filed for protection against bankruptcy to reorganize its business in light of some looming debt.
But don’t panic, this will not affect the filming schedule of The Avengers.
“The studio is fully open and operational,” said Amalgamated Senior Vice President Jim Freel. “It will significantly benefit from a financial reorganization that will place the facility’s operations on a strong stable financial footing to meet its current and future financial needs.”
The $100 million facility opened in 2006. It contains 500,000 square feet and eight sound stages.
The studio has faced a rash of financial problems and lawsuits over the past year. It reportedly owes $23.8 million on one loan, $278,000 for the installation of electrical services and more than $330,000 in back property taxes.
I can see one of two things happening here.
That Marvel has chosen to film The Avengers here, this might give the studio enough cash flow to cover some of those bills. This puts off the inevitable for a while.
OR…
Marvel bails them out, and buys the studio thereby giving them a full scale operational production house instead of always paying others to create for them. This could also increase Marvel’s potential revenue stream offering space to other studios in need of a soundstage and production.
I kind of hope it is the latter.
