DQ Entertainment PLC Ciwen Media Group Acquisition Deal (2174T)

TIDMDQE

RNS Number : 2174T

DQ Entertainment PLC

02 October 2014

For Immediate Release 2 October 2014

DQ Entertainment PLC

("DQ Entertainment", "DQE" or the "Company")

DQ Entertainment and Ciwen Media Group enter into content acquisition deal for Greater China

DQ Entertainment, the global entertainment production and distribution company, and Ciwen Kids of Ciwen Media Group ("Ciwen"), a leader in the distribution and management of international animation properties in China, today announced that they have signed a significant content acquisition deal of multiple properties produced by DQE for distribution in Greater China, which includes Mainland China, Hong Kong and Macau.

With the signing of this strategic agreement, DQE will now be able to expand its footprint into the vast and growing kids entertainment market of China. Ciwen will represent DQE properties in Greater China, for television, home video and video-on-demand ("VOD") distribution for multiple popular properties such as The Jungle Book, Lassie, Lanfuest Quest, Robin Hood, Iron Man and others. The deal is for an initial period of 6 years and DQE will receive a minimum guarantee fee with a revenue sharing arrangement beyond that.

Based in Beijing, Ciwen produces and distributes media content including TV dramas and motion pictures, and is one of the biggest animation rights holders in China, with more than 3,000 episodes of the best in kids and family animated programming from around the world. The company has recently launched a VOD service, BuddiesTV, targeting kids in China. BuddiesTV is currently available across most streaming platforms with partners including iQiyi and Tencent Video (online streaming), BesTV (IPTV) and Xiaomi Media Box in mainland China, Macau and Hong Kong. It is also accessible via iOS- and Android-based apps. DQE's properties will now start being featured on BuddiesTV and will be available to large numbers of kids and families in the Chinese audience.

Tapaas Chakravarti, Chairman and CEO, DQE, said, "This deal is definitely strategic for us and will introduce DQE's high quality, global kids' content to China, across multiple platforms. This will be the first time we will be entering this unique and hitherto untapped market. Ciwen Media Group is one of China's leading distributors of kid's animation and we are sure that we have found a great partner to represent us in China."

Sean Chu, VP of Ciwen Kids, said "The shows acquired from DQE have a rich cultural and intellectual legacy, further enhanced by modern storytelling and state-of-the-art visual representation. We are confident that the addition of DQE programming to our library will further strengthen Ciwen's position as China's leading kids' animated content provider. We believe that Chinese children and parents will enthusiastically embrace these shows via BuddiesTV, which they can access through multiple platforms and devices. This round of content procurement will surely lay a solid foundation for continued collaborations between Ciwen and DQE."

About DQ Entertainment

DQE is a global entertainment group with its production and distribution bases in Ireland, India, France, Manila and US, specializing in animation, gaming and VFX content production, licensing and distribution. DQE employs a large creative and production talent pool which has produced intellectual properties such as The Jungle Book, Charlie Chaplin, Peter Pan, Iron Man, Casper, Little Prince, Lassie, Robin Hood and other properties, in partnership with international broadcasters, distributors and independent producers in Europe & USA. DQE is a Emmy winning production company and won the 'International Studio of the year 2012" at Cartoons on the Bay, Italy.

www.dqeworld.com

www.facebook.com/DQEWorld?ref=hl

About Ciwen Media Group

Ciwen Media Group is a leader of the production and distribution of TV, film and animation in China. Its Kids and Rights Division, led by Mr. Sean Chu, is responsible for original content creation, production, distribution, brand management, and licensing and merchandising of kids' animated properties and characters from around the globe.

Through well-crafted brand management and holistic marketing efforts, Ciwen Kids strives to present China's young consumers with the best edutainment content through multiple channels, platforms and screens, as well as with groundbreaking consumer product experiences.

www.buddiestv.com

For further information, please contact:

 
 DQ Entertainment plc                   Tel: +91 40 235 
  Tapaas Chakravarti - Chairman          53726 
  and CEO 
  Rashida Adenwala - Director Finance 
  & Investor Relations 
 Allenby Capital Limited                Tel: +44(0) 20 
  Jeremy Porter / Alex Price             3328 5656 
 Buchanan Communications                Tel: +44 (0)20 
  Mark Edwards/Clare Akhurst             7466 5000

www.buchanan.uk.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

ACQLLFVEIDLLIIS

DQ Entertain. (LSE:DQE)
Historical Stock Chart
From May 2024 to Jun 2024