An Isle of Man-based film producer says he has made an offer to acquire the CinemaNX back catalogue.

Laxey-based George Hargreaves, who has had a 50-year career in music, television and film production, has been campaigning for the return of film production to the Isle of Man.

He submitted a Tynwald petition in 2024 calling for a £20m loan guarantee scheme to revitalise the industry.

Mr Hargreaves, who wrote Sinitta’s 1986 hit So Macho before becoming an ordained Pentecostal minister, has previously criticised the collapse of the island’s film industry.

He has said the decision to shut it down following losses of £26m of public money amounted to ‘throwing the baby out with the bath water’.

Mr Hargreaves said there is a need for a clear long-term strategy for CinemaNX, which remains in public ownership, and has called for serious consideration of ways to return it to profitability.

He said: ‘CinemaNX is currently operating at a net loss while in government hands. That makes it even more important that the catalogue is managed commercially, transparently and with a view to creating value for the Manx people.’

Mr Hargreaves said his offer to acquire the CinemaNX catalogue reflected his belief that the assets could be revitalised through private-sector leadership and renewed commercial focus.

More than 100 films and TV productions were made in the Isle of Man, generating many tens of millions of pounds in VAT and other taxes.

But after VAT rules changed in 2007, the number of productions made on the island declined sharply.

That year, management of the film industry and the £50m Media Development Fund passed to CinemaNX, which invested £39,706,652 in 20 films.

More than £9m was lost on the Zac Efron film Me and Orson Welles, which was partly filmed on the island.

Then, in 2012-13, management of the fund, by then reduced to £25m, transferred from CinemaNX to Pinewood Film Advisors. Pinewood invested £20,019,662 in 10 films.

In total, £20.6m was written off on films made while CinemaNX managed the Media Development Fund.

A further £6.2m was written off on films made during Pinewood’s management.

Mr Hargreaves is also calling for greater accuracy, transparency and reform.

A response to a Freedom of Information request he submitted confirmed that an official report listing an Isle of Man investment of £887,525 in ‘Iron Man’ did not refer to the 2008 blockbuster starring Robert Downey Jr and Gwyneth Paltrow.

Instead, the investment related to the animated television series Iron Man: Armored Adventures.

He said the confusion stemmed from a Public Accounts Committee report into the Media Development Fund which listed the production simply as ‘Iron Man’.

Mr Hargreaves said: ‘If people are led to believe government invested in one of the world’s most successful films and made almost nothing back, serious questions naturally follow.’