MUMBAI: DQ Entertainment plc ("DQE"), has signed a co-production agreement with Gaumont-Alphanim, animation and film producers in France, with an estimated production budget of EUR 6.9 million.
DQE, working alongside DQ Entertainment Ireland, a wholly owned subsidiary, will start work immediately on the co-production of a third series of Galactik Football, which follows two successful co-productions with Gaumont-Aplhanim – Delta State and Potatoes and Dragons.
Three additional projects are also under discussion, including one liveaction television series to be produced by DQE.
DQE and Gaumont-Alphanim are pursuing a business model of raising the maximum production budget through broadcasting and pre-sales agreements, with all production projects completed within a 3 year window.
DQE chairman and CEO Tapaas Chakravarti said,"This is the beginning of a new and exciting era with Gaumont-Alphanim, starting with Galactik Football 3. By combining production, distribution, licensing and global networking capabilities we believe today’s announcement is a significant strategic step for DQE but at minimal risk to our business model. Gaumont is virtually the oldest cinema and event group in [France] and enjoys an unchallenged reputation in our industry."
Gauomont-Alphanim CEO Clement Calvet added, "We want the best for Galactik Football and we are glad that DQE has agreed to join us. Together with DQE, I have no doubt that we’ll deliver a great show for kids all over the world premiering in June 2010 for the next World Cup."