The Isle of Man is to halve its investment in Pinewood Studios, taking the stake to just less than 10 per cent and overall cost to £12.2million.
Treasury has confirmed the radical change in the deal which originally stood at £24m for 20 per cent.
Minister Eddie Teare has denied a change in heart towards Pinewood Shepperton and says the new agreement will still bring the same benefits.
He adds that the revised deal was not influenced by criticism from some Tynwald members following the original announcement:
(PLAY AUDIO ABOVE)
And you can see a detailed report in to the new deal on Friday’s episode of TVIM.
Bordello to reopen as Irish pub?
Final 'Listening To You' gov roadshow comes to Ramsey tonight
Small shark tagging crews rewarded for efforts by MWT
Overdose investigation lands woman in court
Ramsey attempted burglary sparks witness plea
Dangerous driving death accused committed to higher court
Chance to help name baby gibbon!
Drug dealer to appeal asset seizure
