Mondo TV close a deal with Nine Hong Technology

Mondo TV has reached an agreement with Nine Hong Technology, a Hong Kong-based company, for the purchase by the latter of a share of 70% of the exploitation rights of the new projects that Mondo TV will produce with Henan York Animation , announced a few days ago, and two other projects for China and 10% of the exploitation rights in the rest of the world.

Nine Hong technology will also handle distribution in China for next five years of the two series. The deal was closed for  $ 6.6 million for each series, for a total of $ 19.9 million. "The agreement is an important pre-sale of rights relating to the new project and allows a large part of the coverage of the part of the production budget projects looming on Mondo TV," the company said in today's note, adding: "The agreement is another important step in the achievement of the expected results from the business plan for 2020 ".