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Padmalaya signs deal with Europe's Mondo TV

MUMBAI - Zee subsidiary Padmalaya Telefilms Ltd has signed a US$14 million deal with the European animation house Mondo TV group for the co-production and licensing of cartoons.

The agreement provides for the executive production of 104 new animated episodes (half-an-hour each) by Padmalaya, Padmalaya said in a release. Mondo TV would also give a temporary license of 1,000 cartoon episodes from its old library for ten years for $5 million, it said.

Padmalaya would utilize Mondo TV's old library for financing future productions and has plans to produce two animated movies, it said, adding that three MoUs for the co-production and commercial exploitation of four new animated TV series and the licensing of 1,000 of Mondo TV's library episodes have been signed between the two companies.

Padmalaya has acquired from Mondo TV the commercial rights of the new series for India, Pakistan, Sri Lanka and other countries in the subcontinent and 20 percent of the exploitation rights for the rest of the world - except Italy - for a total amount of $10 million.

Mondo TV was also contemplating partnership in the 3D animation studio planned by Padmalaya in next couple of months in Mumbai, it said.

"This synergy will definitely catapult the profile of Indian Animation Industry by merely being a back end operator to a level playing field," said Rajiv Sangari, director of the animation division of Padmalaya.

(Asia Pulse/PTI)


Apr 1, 2004


 
     
         
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