MOVIES - Oct. 27, 1988

The banking consortium that originally purchased the storied Elstree film studios outside London--from Cannon Films Inc.--earlier this year has sold its 50% interest in the studios to its partner. Tranwood Earl announced Wednesday it had sold off its interest in Elstree to the Brent Walker Group for an unspecified sum. John Quested of Goldcrest Film and Television--a subsidiary of the Walker Group--also confirmed his company would be running the studios, which will now likely (at least in part) be used as studios and not left to decay or be turned into housing.