Weintraub Entertainment may buy Elstree Studios.

Kenneth Kleinberg, president of the 1-year-old company, said his firm had obtained an option to acquire the British studio from Cannon Group for about $25 million. The agreement requires Weintraub to exercise the option by the end of May, Kleinberg said, and make full payment by the end of June. Last week, Weintraub paid $85 million in cash to acquire most of Cannon’s Screen Entertainment Library, which consists largely of British films.