Spackman Entertainment Group

Spackman surpasses breakeven point for 'Default', film grosses US$20 mil in box office revenue

SINGAPORE (Dec 10): Spackman Entertainment Group Limited says its new film, Default, has grossed US$20 million ($27.4 million) in box office revenue and crossed its break-even point of 2.6 million tickets within 12 days since its official release in South Korea on Nov 28.

Default is a Korean financial thriller film produced by the company’s indirect wholly-owned subsidiary, Zip Cinema.

RHB rolls out the red carpet for Spackman Entertainment despite disappointing 1Q

SINGAPORE (May 16): Spackman Entertainment Group reported a disappointing 1Q18, mainly because of the absence of profits recognised from its blockbuster movie Master and the underperformance of Golden Slumber.

However, revenue grew 31% y-o-y to US$10.5 million, partially due to the contribution of US$2.5 million from the acquisitions that the company has made so far, as well as US$4.5 million from the post-theatrical distribution of The Outlaws.

Spackman to list subsidiaries Novus Mediacorp and Frame Pictures on Catalist board

SINGAPORE (May 7): Spackman Entertainment Group announced that its board has approved the spin-off of its 51%-owned subsidiary, Novus Mediacorp and its wholly-owned subsidiary, Frame Pictures, and for the combined entity to seek listing on the Catalist Board of the Singapore Exchange (SGX).

The group has appointed RHT Capital as the financial adviser in relation to the proposed spin-off and the issue manager and full sponsor in relation to the proposed listing.

Spackman wins camera equipment deals for 3 new Korean drama series including 'Suits' remake

SINGAPORE (Apr 18): Spackman Entertainment Group’s movie and drama equipment leasing subsidiary, Frame Pictures, has secured camera equipment contracts for three new Korean drama series for a tentative contract value of KRW 580 million ($0.7 million).

In a Wednesday announcement, Spackman says the contract value may change according to the final filming schedules of each drama Frame Pictures has been contracted to provide equipment for. 

Spackman partners apparel brand SaltyCustoms for sale of merchandise

SINGAPORE (Apr 9): Spackman Entertainment Group announced that it has entered into a non-binding memorandum of understanding (MOU) with Malaysia-based apparel brand SaltyCustoms, for the proposed partnership for the sale of merchandise based on the group’s artist and content projects via cryptocurrency.

Under this partnership, SaltyCustoms will design, manufacture, and distribute merchandise, including but not limited to, custom apparel influenced by the intellectual property assets, partnerships, network, and events of the group.

Spackman acquires Korean talent management agency; raises stake in Spackman Media Group

SINGAPORE (Dec 12): Spackman Entertainment says that it is acquiring Constellation Agency for a consideration of about $16.6 million or about 144.8 million shares at 0.115 per share.

Constellation Agency is primarily involved in the business of representing and advising Korean artists in overseas markets outside of Korea.

It currently owns The P Factory, a marketing solutions provider specialising in event and branded content production, as well as Platform Media Group, a talent management agency which represents and manages the careers of major artists.

Spackman founder Charles Spackman quits in management restructuring

SINGAPORE (Dec 19): Charles Choi Spackman, the founder of Spackman Entertainment Group, has resigned as the company’s executive chairman and chief executive officer, with effect from today.

In a filing to SGX on Tuesday, Spackman says the resignation is “part of management restructuring to enable more frontline executives to participate on the Board level for increased efficiency and objectivity.”

The group adds that its founder is stepping down to devote more time to pursue his other personal business interests.

Spackman’s Sovereign Default to star Korean heart-throb Yoo Ah-in

SINGAPORE (Dec 1): Spackman Entertainment Group says its upcoming film, Sovereign Default will feature top-tier Korean actor Yoo Ah-in, veteran Korean actress Kim Hye-soo and French star actor Vincent Cassel.

See: Spackman’s next major film is on…The Asian Financial Crisis

Spackman invests $306,000 in Korean film production startup

SINGAPORE (Nov 16): Spackman Entertainment Group says that it has invested KRW250 million ($306,000) in the seed financing round for The Makers Studio, a Korean film production startup.

Once the investment is completed, Spackman will own 20% of the equity interest in The Makers Studio.

The Makers Studio is established by three Korean entertainment industry veterans: Kim Ok‐hyun, Choi Yeon‐ju and Moon Bo‐young.

Why Spackman's outlook remains stellar despite impending share dilution

SINGAPORE (Oct 12): RHB Research is maintaining its “buy” call on Spackman Entertainment Group, while lowering its lower target price to 20 cents from 23 cents previously to factor in an expected dilution of shares.

This comes after Spackman yesterday announced its acquisition of Take Pictures, whose 100%-owned subsidiary is motion development picture production company Studio Take, for a total consideration of $3.9 million.

The deal will be partially funded with the issuance of 25.7 million new shares at the price of 13 cents per share.

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