A Los Angeles-based independent studio that made movies like “A Beautiful Mind” and “The Social Network” will be shut down in the U.K. due to a new health and safety law that will make it harder for studios to operate.
The motion picture studios in the city of New York, London, Berlin, and Amsterdam are among the groups that are facing a ban on making films in the UK under new legislation that takes effect in the coming weeks.
In Britain, films made by independent studios can be screened at festivals or shown in cinemas if they receive a green light from the British Film Institute (BFI).
But studios that want to make films in Britain have been told to go through a review process to get their film approved for release there.
LAVA, a subsidiary of California-based Los Angeles Pictures, will cease operations in the United Kingdom.
The company made the announcement in a statement Monday, citing a new U.N. plan to prevent the spread of disease.
“In light of the latest news on the U-turn from the United States Government, LAVA, a division of Los Angeles, California, announced that it will cease its operations in London and other European countries immediately,” the statement said.
LAVA’s sister studio, Cadence, will be closed.
Cadence has made some of the most acclaimed films in history.
It has made a number of films with Oscar-winning directors including Quentin Tarantino, Emmanuel Lubezki, John Cassavetes, and Oliver Stone.
Cadence is a production house that produces films for both the Motion Picture Association of America (MPAA) and the Screen Actors Guild (SAG).
The UK’s film industry is estimated to be worth around £2.4 billion ($3.4 trillion).
Under the new U-Turn, the BFI has announced a three-year review process for the production of films that receive a screening certificate from the BPI.
If a film receives a greenlight, it can be released anywhere in the world and its content can be used in other countries.