Chinese culture responds to rumors of great changes in Oriental DreamWorks: the company's business remains normal

Oriental DreamWorks is currently operating normally, production, derivatives and other businesses are moving forward as planned, and a new film is scheduled to be released later.

there are foreign media reports that Oriental DreamWorks (Oriental DreamWorks), a Sino-US joint venture film and television company, will encounter US divestment. Chinese Culture Group (CMC), the Chinese leader of Oriental DreamWorks, responded to the reporter.

Foreign media sources say that Comcast, the US investor, has discussed with Chinese Culture Industry Investment Fund and Shanghai Lianhe Investment Co., Ltd., the Chinese investor of Oriental DreamWorks, and plans to give up its 45% stake in Oriental DreamWorks.

in addition, some analysts say that the move may lead to the miscarriage of the film project between the two sides.

however, Chinese culture then made an explanation and response to the reporter, saying:

1, Oriental DreamWorks is currently running normally, production, derivatives and other businesses are advancing as planned, and a new film is scheduled to be released later.

2. Since last year, Oriental DreamWorks has further adjusted and optimized its development path, established the strategic orientation of "Creative Hub", focused on the development of creative screenwriters of animation and the core links of related production, and outsourced production of some non-core production processes around the world. at the same time, it has introduced a number of top talents of Hollywood animation creative production, and increased the proportion of core talents of local teams. The whole company will continue to maintain a stable scale of more than 100 people.

3. Oriental DreamWorks management team and its shareholders are full of confidence in the future development potential of China's animation industry. Recently, a series of restructuring has taken place in Hollywood in the United States, and China's film industry, including animation, is also actively adjusting. As the most important strategic investor and stock of Oriental DreamWorks, the Oriental-Chinese Culture Industry Investment Fund (CMC) will adapt to the changes and continue to develop cross-border cooperation with leading international creative, production and distribution companies to create excellent animation and home entertainment enterprises.

according to public information, Oriental DreamWorks (English name: Oriental DreamWorks) was established in 2012 as a joint venture between Chinese Culture Industry Investment Fund, Shanghai Media Group, Shanghai Lianhe Investment Co., Ltd., and DreamWorks Animation (DreamWorks Animation SKG). The joint venture project is controlled by 54.55% by the Chinese side and 45.45% by the United States.

Kung Fu Panda 3, the first film produced by Oriental DreamWorks, premiered in China and North America on January 29, 2016, grossing more than 1 billion yuan in China and $143 million in the United States.

on April 28th, US entertainment and cable giant Concast announced that it had acquired DreamWorks Animation, the US shareholder of Oriental DreamWorks, for $3.8 billion into Comcast's Universal Pictures Entertainment Group.

the Chinese Cultural Industry Fund has not further responded to rumors that Comcast gave up its stake in Oriental DreamWorks.

Edit: nancy