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2012/02/17

Introducing Oriental Dreamworks: Dreamworks Animation heads to China

kungfu panda -LOS ANGELES (Reuters) - "Kung Fu Panda" creator Dreamworks Animation SKG Inc plans to build a production studio in Shanghai with some of China's biggest media companies, a landmark deal that gives the company a foothold in one of the largest untapped markets for Hollywood. The California-based animation studio behind "Shrek" agreed to form a joint venture with China Media Capital, Shanghai Media Group and Shanghai Alliance Investment Ltd. The deal was announced while Chinese Vice President Xi Jinping was visiting Los Angeles and wrapping up a U.S. visit.



The new studio will be called Oriental Dreamworks and will launch business operations in Shanghai later this year.

The venture's first animated feature film is planned for 2016, Katzenberg said. The studio likely will release one animated feature per year in 2016 through 2018 with the goal of increasing to two per year. A live-action movie could come out within two years.

Dreamworks Animation heads to China - Yahoo! Finance:



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