have announced co-production deals in China and are adding Chinese elements to films to appeal to the growing local audience.Ĭhina's box office sales rose by one-third last year to $2 billion while revenue in North America, though still far larger at $10.2 billion, has fallen for two straight years.ĭisney said in April the third installment in its 'Iron Man' franchise would be co-produced with Beijing-based DMG Entertainment. Other studios including DreamWorks rival Walt Disney Co. Shanghai Alliance Investment is an arm of the Shanghai government.

Shanghai Media Group operates television and radio broadcasters. They said the project is modeled on London's West End and Broadway in New York City.Ĭhina Media Capital, whose owners include state-run China Development Bank, owns a controlling stake in News Corp.'s China television channels and other assets. The planned entertainment district in Shanghai's Xuhui area, with investment of more than 20 billion yuan ($3.2 billion), will include cinemas, theaters, restaurants and tourist attractions and is due to open in 2016, the partners said. They said it aims to become the largest animation production base in China and also will explore opportunities in online games, musicals and consumer products. Oriental DreamWorks plans to release one to three films per year and employ as many as 2,000 production professionals, the partners said. DreamWorks will own 45 percent of the company and the Chinese partners will hold stakes totaling 55 percent. They said the movie will be produced by a new joint venture, Shanghai Oriental DreamWorks Film & Television Technology Co.

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