DreamWorks Animation has recently signed a new agreement to open a theme park in Russia. The Huffington Post reported that the company is licensing its characters to a developer of theme parks in Russia.
They group, The Regions Group plans to open multiple parks in Moscow, St. Petersburg and the city of Yekaterinburg in the Ural Mountains in 2015.
The Huffington Post reported that DreamWorks said that the parks will become Europe's "largest year-round indoor entertainment zones."
The indoor complexes will have a movie and concert hall, a hotel, a retail center and a movie theatre.
DreamWork's movies such as "Madagascar," "Shrek, "How to Train Your Dragon," and "Kung Fu Panda" will be featured in the theme parks.
"DreamWorks shares were up 54 cents, or 3.2 percent, at $17.48 in afternoon trading on Wall Street Friday," reported The Huffington Post.
Newsday reported that the producer of "Madagascar" is looking for growth opportunities outside film and DVD. Oriental DreamWorks which is part of the DreamWorks umbrella announced that they had plans to invest in $3.1 billion to build an entertainment center in Shanghai.
The studio said it was also partnering with China Media Capital, Shanghai Media Group and Shanghai Alliance Investment Ltd. in order to start Oriental Dream Works. The company will produce live-action and animated movies and television shows for China and worldwide.
"Russia is one of the most important markets in the world for us," DreamWorks Animation Chief Executive Jeffrey Katzenberg said in a statement according to The LA Times. "All of us at DWA are extremely excited to work with Regions CG. These parks are going to be groundbreaking cultural hubs that will give families the chance to truly enter the world of DreamWorks."
The Russia Parks is an effort by the company to diversify. The company has also licensed characters in Meadowlands, New Jersey.
"The foundation of our success lies in the DreamWorks team's wealth of experience in the field of entertainment and the experience of the Regions Group of Companies in developing and managing retail and entertainment centers," said Amiran Mutsoev, who is a member of the board of directors for Regions GC, reported The LA Times.
This article is copyrighted by Travelers Today, the travel news leader
