DreamWorks Animation Announces Chinese Co-Production Venture
DreamWorks Animation has officially announced the formation of Oriental DreamWorks, a joint-venture with China Media Capital, Shanghai Media Group, and Shanghai Alliance Investment.
The venture, to be based in Shanghai, will develop and produce original Chinese animation and live-action content for distribution in both China and overseas territories. The company also intends to pursue business opportunities in live entertainment, theme parks, mobile, online, interactive games and consumer products.
The venture, which will launch later this year, will be initially capitalized at $330 million in cash and intellectual property rights. DreamWorks Animation will hold 45% of the venture, with the Chinese companies holding the balance.
[Source: DreamWorks Animation]