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DQ Ent acquires 20% stake in Method Films
February 29, 2008 12:43:25 PM IST Bollywood Trade News Network
Animation and gaming content production company DQ Entertainment plc has acquired a 20 % stake in Method Films SA, France.
The acquisition is in line with DQE's strategy to invest in co-production to obtain larger percentages of the global intellectual property and distribution rights in its productions.
Method Films is a multi award winning animation concept and content creation company, one of the European leaders, which produces content for a number of international broadcasters such as Nickelodeon, BBC, ITV, France2, France 3, ABC Australia, etc. Method films has produced several well known TV series created in-house and co-produced with DQ Entertainment such as Skyland, Les Gnouf, Mikido, and has rejuvenated strong international brands such as Iron Man in co-production with Marvel Entertainment & DQ Entertainment. In the year ended 31 Dec 2006, Method Films generated EBIDTA of Euro 6.58 Mn and had net asset of Euro 13.33 million on that date.
Method Films chairman Aton Soumache said, 'We are glad to open new perspectives to this long term relationship with DQ Entertainment. DQ Entertainment is a talented large production company to which we owe a lot, and it will be a central key to the future developments of our company, not only for animation productions for various platforms but for video games also. I do strongly believe in the vast business opportunities available with this French-Indian relationship for the future.'
DQE chairman and CEO Tapaas Chakravarti said, 'Our acquiring stake in Method Films is the logical next step to reinforce our long and successful relationship and help create one of the strongest global animation partnerships. This acquisition will allow DQE greater access to global IPR funding and co-productions and logical larger percentages of the global IP and Distribution rights besides the service revenues.'