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Animation firm DQ Entertainment (DQE) has signed an agreement with German firm ZDF Enterprises (ZDFE) for a 3D animated series named 5 & IT as part of a packaged multi-million euro deal.
As per the agreement, ZDFE will act as the distributor for the TV series being produced at a global budget of €9.2 million, DQE said in a filing to the Bombay Stock Exchange.
The company will hold the distribution rights in 64 countries including Western and Eastern Europe (excluding French speaking Europe, UK and Ireland), South Africa and Latin America.
DQE is currently in discussion with leading broadcasters worldwide for TV broadcast and expects to conclude the deal soon, it added.
The TV series is a series of fantasy adventures for children aged 6-10 and is based on a book by Edith Nesbit. The story has already appeared in live action cinema and TV in Europe.
“We believe 5 & IT will also go on to be a huge success like of our previous productions such as “The Jungle Book“ and “Peter Pan“ and will open various other revenue streams for exploitation,” the DQE CEO and Chairman, Mr Tapaas Chakravarti, said.
Meanwhile, the shares of DQE were trading at Rs 49.80 during the noon session today, up 5.17 per cent from the previous close.
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