MUMBAI: DQ Entertainment has entered into a five year alliance with Europe’s MoonScoop Group, which is engaged in production, distribution, licensing, merchandising, marketing and distribution of animated creations.
The deal size is pegged at $100 million and will encompass five television series and two feature films either animated or live action for worldwide distribution.
The alliance will capitalise on the individual business networks and production expertise of both groups, and provide global operational leverage.
Under the co-production deal, plans are to release one television series or film every year until 2012.
The two companies have also initiated talks on current joint project Casper’s Scare School.
One or more of the co-productions may feature Indian mythology and characters. DQ Entertainment and Moonscoop Group will also focus on new media business development, following in the footsteps of MoonScoop’s launches of the kid-oriented VOD and Broadband channels Kabillion (in the US) and Taffy Kids (in Europe).
The new strategic partnership was initially discussed as MoonScoop and DQE began working together on the animated TV series Casper’s Scare School, scheduled for 2009 and co-produced with Classic Media.
The two companies have also worked together on The Fantastic Four animated series based on the famous superheroes from Marvel.
The MoonScoop Group’s Mike Young Productions, based in the US and Wales also has a rich history with DQE, working together on animated series ToddWorld and the upcoming Twisted Whiskers, a co-production with American Greetings.
DQE Group chairman and CEO Tapaas Chakravarti said, "This is an exciting strategic and functional partnership. There are compelling synergies in working together and we will jointly produce world class television productions and feature films, including those with Indian mythology and stories. I am extremely pleased to extend our relationship with Moonscoop Group, one of the largest in this domain, to the next level of association."
"DQ Entertainment is one of the fastest-growing and most-respected animation studios in the world and this strategic agreement will allow each of us to nurture our upcoming projects to ensure their success in today’s highly competitive marketplace. We look forward to working with them on a variety of projects," added The MoonScoop Group co-executive chairman Christophe di Sabatino.