Animation Xpress: There is a lot happening at India’s leading animation company DQ Entertainment Ltd. The Hyderabad based studio has formed a joint venture with French studio Onyx Films, which will produce high-end CGI feature films. The company has also announced that it will be acquiring a 20 per cent stake in French TV company, Method Films, a sister concern of Onyx.
Under the agreement, DQE will hold 51 per cent of the JV and Onyx Films the remaining 49 per cent. DQ will invest around 1.5 Million Euros in the joint venture at the initial stage.
The proposed JV will produce three feature films valued at a total of $89.5 million and aims to release one each year starting 2008.
On the other hand, DQE will invest about 2 to 2.5 million Euros for the 20 per cent stake in Method Films.
Related:
–DQ Entertainment Plans A Big Fund Raising
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