DQ Entertainment, one of the leading animation, gaming, live action, entertainment production and Distribution Company, has announced today 
that Method Animation, in which DQE holds a 20% equity stake, has completed a corporate reorganization.
Method Animation, Onyx Films and Chapter 2 have joined together to create On Entertainment Group (“On Entertainment”) which has become the holding company for the three French companies. On Entertainment’s combined production portfolios, library of titles and group revenues immediately place it as one of the leading animation and film production companies in Europe with revenues of €34m and an operating profit of €5.2m. DQ Entertainment plc will continue to hold a 20% stake in Method Animation.
At the same time as completing the corporate reorganization, On Entertainment carried out a fundraising of €10 million from a consortium including Ohana Capital, a Canadian corporate investment fund, Gallic entrepreneur Laurent Dassault’s holding company LDRP, and AB Group (“AB”), one of France’s biggest rights-brokers and the owner of 14 pay-TV channels. AB will provide minimum guarantees to On Entertainment for future TV series.
“On Entertainment intends to create two films per year with significant budgets that are intended for worldwide distribution” says Dimitri Rassam, CEO of Chapter 2.
Aton Soumache, CEO of Method Animation says “We are working on creating a catalogue of characters that can be monetized in various markets.”
Tapaas Chakravarti, CEO of DQ Entertainment, comments:”We look forward to partnering with On Entertainment on new productions, combining the unique strengths and resources that the two groups represent.”