DQ Entertainment zooms on deal with Ciwen Media

DQ Entertainment has entered into a deal with Ciwen Media Group which will distribute its content in China, Hong Kong and Macau

Shares of DQ Entertainment were up nearly 17% at Rs 28.85 after the the company said it has entered into an content distribution deal with China-based Ciwen Media Group.

According to the deal, Ciwen Kids of Ciwen Media Group will distribute content produced by DQ Entertainment in Mainland China, Hong Kong and Macau.

The deal is for an initial period of six years in which DQ Entertainment will get a minimum guarantee fee along with a revenue sharing agreement beyond that, the release said.

The stock opened at Rs 25.45 and touched a high of Rs 29.20 so far. Over 800,000 shares were traded on both the stock exchanges so far.