Mondo TV has signed a new deal with Padmalaya Telefilms Ltd. to co-produce and commercial exploit four new animated TV series as well as the licensing of 1,000 Mondo TVs library episodes. The deal sees 104 half-hour episodes, each having a budget of $135,000, to be produced at Padmalaya Telefilms, worth $14 million to the Indian studio, which is a subsidiary of Zee Telefilms Ltd.
Furthermore, Padmalaya acquires the commercial exploitation rights of the new series for India, Pakistan, Sri Lanka and other countries in the Indian area and 20% of the exploitation rights for the rest of the world (without Italy which remains Mondo TVs territory), at $100,000 for each new episode, for a total amount of $10.4 million to be paid to Mondo.
Padmalaya will pay an additional $5 million for at he six-year license of 1,000 episodes of older library programming. The money will be paid part by cash and part by Padmalaya equity shares. Mondo TV and Padmalaya have 60 days to finalize the agreement, otherwise the operation will not go forward.
Padmalaya Telefilms, with headquarters in Hyderabad (India), was established in 1991 and represents one of the leading Indian players for film, TV and animated series production and distribution. The company has a library of more than 300 films and more than 1,500 TV hours.
Mondo TV, listed on the Nuovo Mercato of the Italian Stocks Exchange, is a group composed by seven firms in the production and distribution of cartoon series and full-length features for television and the cinema, as well as in several related sectors (audiovisual and musical distribution, multimedia and merchandising). For more information, visit www.mondotv.it.
Rick DeMott
Animation World Network
Creator of Rick's Flicks Picks
