The Peel Group has seen Pinewood's ambitious plans for 1,400 homes – in the style of famous locations that would double as film sets – knocked back by the government.
In a statement the film studio said it was "disappointed" at Communities Secretary Eric Pickles' decision to refuse planning permission for the project.
"The company will now take time to review the decision in detail," it said.
It added: "The company will continue to implement its master planning consents at Pinewood and Shepperton studios and pursue its international strategy of developing studios overseas."
Manchester-based Peel, which owns Media City UK, acquired around 71% of Pinewood last year. Most of the other shares are owned by Stockport jeweller Warren James.
The acquisition complemented Media City but Pinewood's property assets were particularly attractive to Peel.
The £200m Project Pinewood scheme would have involved the development of 113 acres into workspace and 1,400 homes in the style of locations such as New York, Paris and Venice. Under the proposals residents would have used one side of the properties while filming took place on the other.
Nearby residents in Buckinghamshire opposed the plans.