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SPACKMAN Entertainment Group Limited on Monday announced its proposed acquisition of motion picture production company Take Pictures for an undisclosed sum. The transaction is at a preliminary stage and valid until Oct 31, 2017.
Charles Spackman, executive chairman and chief executive officer of Spackman Entertainment Group, said: "The potential acquisition of Take Pictures is in accordance with our objective to continually seek acquisitions that will strategically add accretive value to our existing movie production business."
He added that veteran movie producer Song Dae-Chan who founded Take Pictures, had previously worked closely with Spackman's chief producer Eugene Lee, and understands the group's approach towards film making.
Earlier in March this year, Spackman also acquired Frame Pictures, a movie and drama equipment leasing business, for 900 million won (S$1.11 million) in cash, and 497,250 issued ordinary shares of the company's associated company, Spackman Media Group Limited (SMGL).