China Gets Oriental DreamWorks
DreamWorks Animation SKG has recently started a joint venture with China Media Capital, with pending plans to include Shanghai Alliance Investment, Ltd. and Shanghai Media Group, in order to establish a China-centric family of entertainment companies. Dubbed Oriental Dreamworks, the outfit will produce and develop original Chinese animated and live-action content similar to its western counterpart. With distribution being planned within China and to other territories around the world.
Besides production of animated content, Oriental DreamWorks is also planning to create content and events for mobile, online, and interactive games, including future plans to produce live entertainment, theme parks, and even mass market consumer products. The Chinese companies will hold the majority of the stakes in Oriental DreamWorks, amounting to 55%, leaving the remaining for DreamWorks Animation SKG. Oriental DreamWorks will officially launch in 2012 in Shanghai. The new joint venture will initially be capitalized with cash and intellectual property valued at $330 million.