DreamWorks Animation to make ‘Ku Fu Panda 3‘ in China in new joint venture with its Chinese partners China Media Capital, Shanghai Media Group and Shanghai Alliance Investment. The movie will be produced in China and released in 2016.
The new joint venture, Shanghai Oriental DreamWorks Film & Television Technology Co., for which DreamWorks will own 45 percent of the company and Chinese partners holding stakes totaling 55 percent, aims to take advantage of the growing film market in China at a time when the U.S. and European markets have weakened somewhat.
The Walt Disney Co. is also taking advantage of this growing market. In April, the company said the third installment in its “Iron Man” franchise would be co-produced with Beijing-based DMG Entertainment. DMG co-produced the thriller “Looper,” starring Joseph Gordon-Levitt, Bruce Willis and Emily Blunt.