Animation firm DQ Entertainment (DQE) today said it 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 Euros, DQE said in a filing to the Bombay Stock Exchange.
ZDFE 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 presently in discussion with leading broadcasters worldwide for TV broadcast and expects to conclude 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," DQE CEO and Chairman Tapaas Chakravarti said.
Shares of DQE were trading at Rs 49.80 a piece at 1215 hours, up 5.17% from the previous close.
