Spackman signs MOU to buy movie equipment firm

Singapore

SPACKMAN Entertainment Group on Monday announced a non-binding memorandum of understanding (MOU) with an independent third party, Kim Jun Young, for the proposed acquisition of Frame Pictures, a movie and drama equipment leasing business in Korea.

Mr Kim, a veteran director of photography, founded Frame Pictures in 2004. Charles Spackman, executive chairman and CEO of Spackman, said that the potential acquisition of Frame Pictures is part of its efforts to create a more diversified and consistent revenue stream, which has thus far been very reliant on the box office performance of its movies.