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Alibaba buys distribution rights for Spackman's film 'Life Risking Romance'
ALIBABA Pictures Group has purchased the rights to distribute Spackman Entertainment Group's film "Life Risking Romance" in movie theatres and on online platforms in China. The movie has been presented and co-produced by Spackman's subsidiary Novus Mediacorp Co.
Spackman said before trading began on Monday that "Life Risking Romance" is a romance thriller starring Ha Ji-won, Chun Jung-myung and Chen Bolin. It is set to be released in South Korea in the fourth quarter of 2016.
Spackman's executive chairman Charles Spackman said: "The partnership with Alibaba Pictures to distribute our film allows us to make headway in China and reach a wider audience."
Leveraging an integrated platform combining traditional theatres and the Internet will provide more exposure for Spackman's film, he said.
The film, co-produced by Novus Mediacorp and BA Entertainment Co, is directed by Song Min-Kyu, producer of the 2011 war film "My Way".
The distribution rights to Alibaba Pictures are not expected to have a material financial impact on the net tangible assets and earnings per share of Spackman for the financial year ending Dec 31, 2016, the company said.