Press Release: State aid: Commission asks Spain to recover €265 million from Ciudad de la Luz film studio complex

The European Commission has concluded that €265 million public funding granted by the Valencia Regional Government to the Ciudad de la Luz film studio complex was not provided on market conditions and needs to be paid back by the beneficiary. Following an in-depth investigation, the Commission concluded that no private investor would have accepted to invest on the same terms and that the public funding massively distorts competition between major European film studios.