After 19 years, the BC government has sold off Vancouver's "The Bridge Studios" for $40 million to West Van's Larco Investments.
"Private industry is best equipped to maintain and operate production facilities of the level and expertise of Bridge Studios," said Stan Hagen, BC tourism, sports and arts minister.
The Crown corporation, BC Pavilion Corp. (PavCo), ran the movie studio since the late 1980's in an effort to support the BC film industry.
Over the years, the six-hectare, six-stage Burnaby studio has serviced more than 100 productions, including "MacGyver", "Stargate SG-1", "Stargate: Atlantis" and "Fantastic Four: Rise of the Silver Surfer".
Larco owns and operates retail centers, hotels and convention facilities across Canada.
The company said they will continue to run the facility as film studios.