WILMINGTON, NORTH CAROLINA, is not, on the face of it, an obvious place to build a film studio. Two-and-a-half thousand miles due east of Los Angeles and the major studios, it had always been something of a sleepy burgh, a former shipbuilding town; its sole, tenuous link to the world of movies being Cape Fear River, which flows out into the Atlantic Ocean.
But in 1984 it became the unlikely home to possibly the most ambitious independent film studio of all time. Dino De Laurentiis, the legendary producer of Serpico, Conan The Barbarian, King Kong, Flash Gordon and Death Wish, had set up shop, building, in the remains of an old warehouse complex, the moviemaking operation of which he had always dreamed. And what an operation. Buzzing among the five…