DreamWorks Animation SKG Inc. unveiled more plans of its Chinese joint venture, including production of the next “Kung Fu Panda” film in that country and a cultural and entertainment center in Shanghai.
Oriental DreamWorks has set up its headquarters in the riverside Xuhui district in Shanghai. The joint venture, announced in February, joins the Glendale-based DreamWorks Animation with China Media Capital, Shanghai Media Group and Shanghai Alliance Investment Ltd. DWA owns 45 percent of the company.
“Together with China Media Capital and our other joint venture partners, I am very pleased to establish Oriental DreamWorks in Xuhui in order to bring a high-quality, multi-media cultural and entertainment center to the area,” DreamWorks Animation CEO Jeffrey Katzenberg said in a prepared statement.
“Kung Fu Panda 3” will be a co-production of the company with a release date in 2016. Oriental DreamWorks will release its first solely created feature animated film in 2017 and will then follow with one to three event films per year.
The Dream Center entertainment and cultural complex will include waterfront hotels and restaurants, shopping areas, galleries and studios, the world's largest IMAX screen, to be used for high-profile film premieres and events, as well as a central theater area and an interactive animation exhibition.
The Dream Center is scheduled to open in 2016.
Mark R. Madler