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News

Daily Telegraph: Hollywood Filmmaking Moves to Bulgaria

by Sofia News Agency www.novinite.com, 22 Aug 2005

Bulgaria is the latest former Iron Curtain nation to attract American film-makers, following the lead of the Czech Republic and Romania. This is what The Daily Telegraph said Saturday in a story about the relocating of the Hollywood filmmaking process. "The Bulgarian working population is over-educated and under-employed, and monthly salaries average EUR 110," The Daily Telegraph points out. However, Bulgaria, with its thinning population and only one studio, could not be a major threat to the Californian film industry, the article says. Yet the country is attracting more and more high-profile producers, they underline. Some of the Hollywood stars who have worked in Bulgaria recently include Hillary Swank, Josh Hartnett, Armand Assante, Scarlett Johansson and Morgan Freeman. The Bulgarian state film studio Boyana Film was recently sold to Nu Image. The American company vowed first-year investments of EUR 11.4 M out of the whole of EUR 15.6 M in investment plans. Compensation instruments are to be paid for 30 per cent of the shares.
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