DQ Entertainment Picks Up 20% Stake In Method Films
By Nikhil Pahwa - Thu 28 Feb 2008 06:53 AM PST
DQ Entertainment, an animation and gaming company has acquired 20 percent stake in Method Films, a French animation company which produces content for broadcasters like Nickelodeon, BBC, ITV (LSE: ITV), France2, France 3, ABC Australia. In the past, Method films co-produced content with DQ Entertainment, including Iron Man for Marvel Entertainment (NYSE: MVL) and Skyland. They are also co-producing other properties like Les Gnouffs, Jet groove, among others. For the year ended 31 Dec 2006, Method Films generated EBIDTA of € 6.58 Mn and had net asset of € 13.33 million on that date. The amount of acquisition has not been disclosed. Last year, DQ Entertainment had raised $56 million through a listing on the Alternative Investment Market (AIM), placing around 54.9 percent of its issued share capital.
Posted in: Companies, DQ Entertainment, JV & Investment
