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| Wednesday, February 15th, 2012

Haute 100 Los Angeles Update: Jeffrey Katzenberg’s DreamWorks to Embark on New Venture

It has just been announced that DreamWorks Animation CEO Jeffrey Katzenberg just signed a partnership with two Chinese media companies for a new project. Together, they will embark on the creation of a new studio facility in Shanghai.

Shanghai Media Group and China Media Capital, both state-owned companies, are teaming up with DreamWorks to construct a space for television, film and live stage productions. The deal comes in a time where China’s media realm and economy are booming while the United States’ film industry is slow-moving.

More details on the deal will be released Friday, when Chinese Vice President Xi Jinping will be in LA. He claims it is the “most significant deal to involve a Hollywood studio in China.”

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IMAGE: PacificCoastNews.com

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