Sale, partial demolition, and present
The studios were put up for sale in 1985. A management team beat off all other prospective buyers with the help of Alan Bond but the team had difficulty raising their share of the purchase price and Bond took over. Soon afterwards he sold the studios to the Herron-Cannon Group in 1986. In 1987, Weintraub Entertainment Group attempted to buy the studios, but the deal collapsed.[18] In June 1988, Cannon sold the studios to a consortium of property developers formed by merchant bank Tranwood Earl.[19] Following industry concerns over the plans of the property developers, the leisure and property company Brent Walker plc formed a joint venture with Tranwood Earl two months later and acquired the site from the consortium for £32.5 million.[20][21] A month later, Brent Walker bought out Tranwood Earl, proposing to retain seven of the ten soundstages and post-production units.[22][23] Much of the backlot was sold off and demolished, with a Tesco supermarket being built on the land.
A "Save Our Studios" campaign was launched in 1988 by managing director, Andrew Mitchell, local Town Councillor and studio historian Paul Welsh, with the support of many film actors and the general public. Hertsmere Borough Council stepped in and bought the remaining facilities in February 1996 and appointed a management company, Elstree Film & Television Studios Ltd., to run the studios in 2000. The purchase ended an eight-year struggle that was due to have culminated in High Court action. Brent Walker's offer to sell the site to the council, for an undisclosed sum (but no more than its worth as a film studio), represented a victory for the local authority in upholding the planning agreements that protected the studios.
The studios are now most commonly known for being the home of Who Wants to Be a Millionaire? and the Big Brother house (previously at Three Mills Studios in Bow, East London). The Big Brother house was actually built on top of the studios' old underwater stage where scenes in The Dam Busters (1955) and Moby-Dick (1956) were filmed. Elstree Film & Television Studios Ltd's lease expired at the end of March 2007.
It was announced in 2012 that the studios would be the temporary home of BBC Studios and Post Production during the redevelopment of Television Centre.[24] Shows such as Strictly Come Dancing and Pointless were based on the site from spring 2013. The original plan was for the BBC to move back to refurbished Television Centre studios in 2015, however due to delays in the broader redevelopment of the old Television Centre site in July 2014, the lease was extended until 2017.[25]
Elstree Studios are now operated by Elstree Film Studios Ltd, a company controlled by Hertsmere Borough Council. Feature film production continues alongside television production, commercials and pop promos; recent productions include 44 Inch Chest, Bright Star, 1408, Son of Rambow, Amazing Grace, The Other Boleyn Girl, Notes on a Scandal, Breaking and Entering, Flyboys, Hitchhiker's Guide to the Galaxy, Star Wars: Episode II – Attack of the Clones and Star Wars: Episode III – Revenge of the Sith, Dancing on Ice and Are You Smarter Than A 10 Year Old? for Sky television among many others.
On 25 November 2019 it was announced that Elstree Studios would continue with their partnership with BBC Studioworks to provide television studio facilities. The arrangement will see the use of stages by the BBC continue until at least March 2024.[26]
In December 2023, owners Hertsmere Borough Council were granted permission to demolish Sound Stages 7, 8 and 9, by their planning committee. [27][28]