Animation, gaming and visual effects company DQ Ent.Ltd of India and CG-animation house Onyx Films in France have formed a joint venture to produce CGI feature films. DQE also announce plans to acquire up to a 20% stake in French TV production company Method Films
Speaking about the joint venture Mr. Tapaas Chakravarti said: ‘We are thrilled to announce about our joint venture with the leading French-based animation giant Onyx Films. The joint venture also clearly endorses the fact that we are on par with the best in the business in terms of quality, and capabilities to execute large multiple projects within the stipulated time frame with state-of-the-art facilities and a strong talent pool’.
DQE will initially invest approximately 1.5 million euros in the joint venture with Onyx Films and will hold a 51% stake in the partnership, which has three feature films in the planning stage. The goal is to release one feature film budgeted at around $30 million each year starting in 2008. Initial titles are Skyland, Night of the Child King and The Enchanted Boy.
Lending her experience to the operation is Theresa Plummer Andrews, who most recently served as exec producer and president of children’s programming at BBC, which she acquired and co-produced many live-action and animated series between 1986 and 2005. Her career also includes stints a U.K. entities Portman Prods, Global Television, and ITV.
Commenting on the stake in Method Films, Chakravarti says the deal will help DQE access global revenue and overseas funds for production, while providing a sizeable pipeline for animation, vfx and post-production work. In addition to its move into the feature animation arena, DQE plans to greatly expand its presence in the console and mobile video game arenas.
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