Spackman Entertainment Group

Spackman Entertainment acquires another Korean film production company for $3.9 mil

SINGAPORE (Oct 11): Spackman Entertainment also announced that it has entered into a sale and purchase agreement to acquire Studio Take, a Korean film production company, through the purchase of Take Pictures for a consideration of about $3.93 million.

Take Pictures currently owns 100% of the equity interest in Studio Take, a development motion picture production company that has previously co-produced with the Zip Cinema, the group’s indirect wholly-owned subsidiary.

Take Pictures is founded by Song Dae-chan, a 15-year veteran movie producer.

Spackman acquires 10% of Korean dessert cafe chain

SINGAPORE (Sept 19): Spackman Entertainment Group, the Korean entertainment production group, has acquired a 10% stake in NSY Group for $137,755 in cash.

NSY Group owns the Korean dessert café chain Nunsongyee which is known for its modern take on the traditional Korean icy dessert, bingsu.

The group has seven branches in Singapore and is currently exploring overseas expansions to countries such as Malaysia, Australia and New Zealand.

Spackman Entertainment wins camera equipment deal for Netflix's first Korean production

SINGAPORE (Sept 18): Spackman Entertainment Group announced that its wholly-owned subsidiary, Frame Pictures, has won a contract to supply camera systems and equipment for Netflix’s first Korean original production – Love Alarm.

The contract is worth KRW321 million ($381,000), but is subject to changes in the final filming schedule.

The production is a 12-episode drama series, which will premier in 2018 exclusively on Netflix.

Spackman Entertainment to start Korean drama production with star power from So Ji Sub

SINGAPORE (Sept 7): Spackman Entertainment Group is making its maiden foray into the Korean drama series production business with some the help of heart throb So Ji Sub.

The venture will kick off with Spackman Entertainment entering into a co-production partnership agreement with Mongjakso Co, a Korean producer of TV dramas.

Under the partnership deal, Spackman and Mongjakso will enter into agreements to co-develop and co-produce two TV dramas including So’s next major TV drama with the working title The Game, which is expected for release in 2018.

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

SINGAPORE (Sept 4): Spackman Entertainment Group, the Korean production group, today announced that the next major film by wholly owned subsidiary, Zip Cinema, will be Sovereign Default.

Sovereign Default is a historical financial thriller depicting the behind‐the‐scenes story of the tumultuous week leading up to the rescue package agreed upon between the International Monetary Fund (IMF) and the Republic of Korea to prevent bankruptcy on the backdrop of the 1997 Asian Financial Crisis.

Frame Pictures contracted to supply equipment for filming of ‘Deceptive Murder’

SINGAPORE (Aug 16): Frame Pictures, the wholly-owned subsidiary of Spackman Entertainment Group, has secured a contract worth KRW220 million ($0.3 million) to supply camera systems and equipment for the filming of an upcoming Korean crime thriller film entitled Deceptive Murder.

In a press release on Thursday, the group says the latest deal marks Frame Pictures’ 13th project secured in the year to date.

Spackman in discussions to acquire Korean film production company

SINGAPORE (Aug 14): Spackman Entertainment Group has entered into a memorandum of understanding (MoU) for the proposed acquisition of 100% of the total voting shares in the company with full ownership of Take Pictures, a motion picture production company based in Korea and founded by movie producer Song Dae-Chan.

Take Pictures has developed and owns film projects including The Priests 2, a co-production with Spackman’s indirect wholly-owned subsidiary Zip Cinema.

Spackman Entertainment swings back into the black in 1H

SINGAPORE (Aug 10): Spackman Entertainment Group, the Korean entertainment production groups, recorded a net profit of US$4.4 million ($6 million) in 1H17 compared to a net loss of US$3.5 million in 1H16.

Revenue increased 38% year-on-year to US$10.5 million for 1H17 mainly as a result of an increase of US$2.2 million from distribution of films and others, an increase of US$0.3 million from leasing equipment business of Frame Pictures Co. and an increase of US$0.3 million from production of films.

Spackman Entertainment out of the red with 1Q earnings of $7.6 mil

SINGAPORE (May 15): Spackman Entertainment Group reported US$5.4 million ($7.6 million) of earnings for the 1Q ended March 31, reversing from its US$1 million net loss position in the same quarter a year ago on higher revenue.

The group also announced that its profit before tax of US$5.5 million is the highest to be recorded since its initial public offering.

Revenue for the quarter was US$8 million, double the US$3.9 million reported last year due to growth in revenue from the production of films, as well as the distribution of films and others.

Spackman expects to climb out of the red in 1Q

SINGAPORE (April 10): Spackman Entertainment Group on Monday issued a positive profit guidance for the first quarter ended March 31.

Based on a preliminary review of its first quarter results, Spackman says it expects to report a net profit for 1Q17, reversing out of a net loss reported a year ago.

The turnaround and results improvement is mainly attributed to the revenue and earnings recognition from the film, “Master”. The film was produced by Spackman’s wholly-owned subsidiary, Zip Cinema Co.

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