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September 15, 2011, Thursday
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THE Hollywood company behind the hit "Kung Fu Panda" movies is to open a new Shanghai operation to make films specifically for China's booming market, a recruitment firm said yesterday.
DreamWorks Animation has hired Los Angeles-based RSR Partners to recruit a president for the planned venture, making it the latest in a line of Hollywood giants to break into the potentially lucrative market.
A letter from RSR to potential hires seen by AFP said the firm was looking to "establish a production and development presence in China."
RSR Managing Director Gary Matus said his firm had been hired to recruit staff for DreamWorks' expansion into China, but that he did not know when the new venture would open.
Hollywood studios are trying for a foothold in China, where box office sales rose 64 percent to US$1.5 billion in 2010, making it the world's fastest-growing movie market.
DreamWorks Animation has hired Los Angeles-based RSR Partners to recruit a president for the planned venture, making it the latest in a line of Hollywood giants to break into the potentially lucrative market.
A letter from RSR to potential hires seen by AFP said the firm was looking to "establish a production and development presence in China."
RSR Managing Director Gary Matus said his firm had been hired to recruit staff for DreamWorks' expansion into China, but that he did not know when the new venture would open.
Hollywood studios are trying for a foothold in China, where box office sales rose 64 percent to US$1.5 billion in 2010, making it the world's fastest-growing movie market.
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