DQ Entertainment Acquires Stake in Method Films

HYDERABAD, February 29: DQ
Entertainment (DQE), an animation and gaming content production company in
India, has agreed to acquire a 20-percent stake in France’s Method Films.

Method Films produces
content for international broadcasters such as Nickelodeon, BBC, ITV, France 2,
France 3 and ABC Australia. The company has already worked on a number of
co-productions with DQE, including Skyland, Les Gnouf, Jet
Groove, Pinky & Perky and Mikido. Method Films has also rejuvenated international brands such as Iron
Man, which was co-produced with
Marvel Entertainment and DQE. For the year ended December 31, 2006, Method
Films generated EBIDTA of 6.58 million euros.

Aton Soumache, the
chairman of Method Films, 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 platform but for video games also. I do strongly believe in the vast
business opportunities available with this French-Indian relationship for the
future.”

Added Tapaas Chakravarti,
the chairman and CEO of DQE, “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.”

DQ Entertainment’s clients
include Walt Disney Television Animation, Nickelodeon Animation Studios,
Electronic Arts, Marvel, American Greetings, NBC Universal, the BBC, Method Films
and Take 2 Interactive.

—By Irene Lew