Take Pictures

Spackman sinks deeper into the red in 2Q with $2.1 mil loss

SINGAPORE (Aug 15): Spackman Entertainment Group reported a loss of US$1.5 million ($2.1 million) for the 2Q ended June, widening from its 2Q17 loss of US$0.2 million on lower revenue and higher general & administrative expenses.

This brings the group to a loss of US$0.6 million for 1H18, compared to earnings of US$5.2 million a year ago.

Revenue for the latest quarter fell 32% on-year to US$1.7 million from US$2.4 million previously due to lower contributions from the production of films.

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.

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 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.

Be informed of the stories that matter

Subscribe

Be informed of the stories that matter