Business Daily from THE HINDU group of publications
Wednesday, Aug 02, 2006
Business Daily from THE HINDU group of publications Wednesday, Aug 02, 2006 |
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Corporate
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Alliances & Joint Ventures Variety - Entertainment & Leisure DQ Entertainment buys 20% in French TV production house Our Bureau
MR TAPAAS CHAKRAVARTI, Chairman and Managing Director & CEO, DQ Entertainment Ltd (right), with Mr Aton Soumache, Chairman, Onyx Films, at a press conference in Mumbai on Tuesday.
Mumbai , Aug 1 The Hyderabad-based gaming and animation major DQ Entertainment Ltd (DQE) has bought 20 per cent equity stake in France-based TV production house Method Films. The € 2.5-million deal is intended to "strengthen the existing relationship and convert existing customer vendor relationship to true corporate partnership.'' The company has also entered into a joint venture with another Paris-based production company Onyx Films to partner as many as 10 computer generated images feature film projects in the near future. "The agreement of joint venture will be such that DQE will hold 51 per cent and Onyx Films will hold the remaining 49 per cent in the newly formed venture. DQE will invest around € 1.5 million in the joint venture at the initial stage,'' said Mr Tapaas Chakravarti, CEO, DQE. The proposed joint venture has identified three animated feature films - `Skyland', Night of the Child King and The Enchanted Boy - valued at $89.5 million and aims to launch one feature film every year starting from 2008.
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