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June 15, 2012

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Curtain up for media park in 2015

WEST Bank Media Park, a project incorporating a Chinese cartoon studio, cinema and theater, is to open in the west bank of the Huangpu River in Shanghai by 2015.

The West Bank project, formally known as the Oriental DreamWorks project, will occupy a nine-block area in the city's Xuhui District.

The cartoon studio is a joint investment by DreamWorks and stated-owned media firms.

The project will also involve local culture organizations such as Shanghai Film Group Corp, Shanghai Drama Art Center, Shanghai Conservation of Music and restaurants and bars, said Chen Chengquan, director of the Culture Bureau of Xuhui District, according to Xinhua news agency yesterday.

"It will become the city's new landmark of media and culture and a new growth engine for Shanghai's economy development," Chen said.

The bureau declined to reveal details of the project's timetable or the level of investment.

The project is an expansion of a DreamWorks investment project announced in February.

US company DreamWorks said it was to build the studio in a project called Oriental DreamWorks, a joint venture with China Media Capital and Shanghai Media Group and Shanghai Alliance Investment, an investment arm of the Shanghai government. With an initial investment of US$330 million, the studio would develop original Chinese animated and live-action movies, TV shows and other entertainment.


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