×
You will be redirected back to your article in seconds

Busan: Korea’s Take Pictures Bought by Spackman Entertainment

Spackman Entertainment Group, an international investment outfit with a taste for all things Korean, is set to buy Korean film production company Take Pictures (aka Studio Take). The company is headed by veteran producer Song Dae-chan.

Spackman is currently riding high. “The Outlaws,” produced by Spackman’s 51% owned subsidiary Novus Mediacorp, was at the top of the Korean box office on two of the three days at the Oct. 6-9 holiday weekend. After a week in release, it has grossed $17.5 million.

Song started work as an apprentice to director Kang Je-gyu and subsequently worked for 13 years with Eugene Lee, who heads another Spackman company in Korea, production house Zip Cinema. Take Pictures now has a slate of 10 thrillers and dramas, including “The Priests 2,” a sequel to hit “Priest.”

Spackman will pay some $2.95 million (S$3.93 million) for Studio Take, with most of the price paid in Spackman shares. Studio Take made unaudited profits of $356,000 (S$488,000).

“The acquisition of Take Pictures will significantly benefit our film production business as it will allow the group to expand its annual movie production capacity. Take Pictures is well-positioned to deliver similar levels of success as Zip Cinema,” said Charles Spackman, executive chairman and CEO of Spackman Entertainment, in a statement. “In order to add accretive value to our existing film production business, we plan to focus on acquiring or investing into early stage production companies that can be more easily integrated with our culture of moviemaking.”

Last month, Spackman acquired a 10% equity interest in NSY Group, which owns Nunsongyee, a Korean-themed dessert cafe chain in Singapore.

More Film

  • Terry Back chairman ACF

    Veteran U.K. Media Investor Terry Back Joins ACF as Chairman

    CANNES — Veteran U.K. film industry investor Terry Back has joined ACF investment bank as chairman. ACF, headed by CEO Thomas Dey, has been at the forefront of the M&A activity around independent TV and film production outfits, mostly in the unscripted TV arena. ACF is in the midst of expanding its activities in the [...]

  • Joker

    Korea Box Office: 'Joker' Remains on Top, 'Gemini Man' Lands in Fourth

    Warner Bros.’ “Joker” remained on top of the South Korean box office in its second weekend. The American psychological thriller earned $5.71 million from 768,000 admissions between Friday and Sunday, for a total of $28.3 million from 3.85 million admissions after two weekends. It accounted for 46% of total weekend box office in the country. [...]

  • dolittle-DRD_Tsr1Sht_1011_RGB_4_rgb-1

    Robert Downey Jr. Embarks on Perilous Journey in First 'Dolittle' Trailer (Watch)

    Robert Downey Jr. is setting sail with some furry friends in the first trailer for “Dolittle,” Universal Pictures’ reimagining of the classic story about a man who could speak to animals. “We have no choice but to embark on this perilous journey,” he says. Set to a rendition of Louis Armstrong’s “What a Wonderful World,” [...]

  • Parasite

    Bong Joon Ho's 'Parasite' Posts Powerful Opening in North America

    Bong Joon-Ho’s dark comedy “Parasite,” which won the Palme d’Or at the Cannes Film Festival, has launched with a spectacular $376,264 at three U.S. theaters.  Neon opened “Parasite” at The Landmark and Arclight Hollywood in Los Angeles and at the IFC Center in New York, where it broke the opening record set by 2014’s “Boyhood.” Its per-screen average of [...]

  • Joker Movie

    'Joker' Dominates International Box Office With $124 Million

    “Joker” is showing impressive traction internationally with a second weekend of $123.7 million on 24,149 screens in 79 markets — a holdover decline of just 29%. Joaquin Phoenix’s psychological thriller has totaled $351.2 million outside North America after only 12 days in release. And with $192 million in domestic grosses, “Joker” has now topped $543 [...]

  • Joker

    'Joker' Remains Box Office Ruler With $55 Million

    Joaquin Phoenix is king of the North American box office once again as “Joker” scores an easy victory in its second weekend with $55 million at 4,374 sites. “Joker” dominated a trio of new entries with animated comedy “The Addams Family” leading the rest of pack with $30.3 million at 4,007 venues, topping forecasts. Will [...]

More From Our Brands

Access exclusive content