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Pentamedia takes 51 per cent stake in The Simpsons' producer
Our eFE Bureau
Mumbai : Pentamedia Graphics Limited, India's largest multimedia production company has announced the signing of a letter of intent to acquire a 51 per cent stake in Film Roman Inc, a US-based producer of television animation. The deal is likely to be effective from January 2001. As per the deal, Pentamedia will have to make an investment of $15,000,000 in Film Roman. This is likely to happen early next year following the necessary approvals.Mr V Chandrasekaran, chairman and CEO of Pentamedia said: "Pentamedia and Film Roman will blend effectively to build global brands." Film Roman CEO, John Hyde said "This alliance will give Film Roman resources and capabilities in the field of animation programming." Film Roman produces "The Simpsons", "The Oblongs" and has projects lined up for both live action and animation. The alliance will take forward projects on live action and animated theatrical motion pictures, television and Internet applications. Mr Hyde said the animation business is a huge part of the entertainment business in the US and about 30 per cent of the business comes from the overseas market. This includes 2D and 3D animation. He said: "The opportunity in this deal is that it allows us to create a world market." On the overseas suppliers, Mr Hyde said that they will continue to work on the current projects. "We will be looking to maximise our output from India over time," he elaborated. Mr Chandrasekaran said Pentamedia has bookings worth $100 million currently. Responding to questions on Num TV, one of the first 24-hour live online multilingual entertainment portals-which is due to be launched by Pentamedia, for which the company is believed to be in talks with Sony-Mr Chandrasekaran said "the situation remains the same and a clearer picture will emerge in the next few days." Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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