On February 17, 2012, DreamWorks Animation announced a joint venture with China Media Capital, Shanghai Media Group and Shanghai Alliance Investment to build a Shanghai based family entertainment company named Shanghai Oriental DreamWorks Film & Television Co., Ltd. or Oriental DreamWorks for short. The new venture is expected to develop and produce original Chinese animated and live action content for distribution within China and worldwide. The company will also produce live entertainment content, theme parks, games and consumer products. Oriental DreamWorks, owned 45% by DWA and 55% by the Chinese partners, launched on August 6, 2012, with the cash and intellectual capital worth $350 million. To produce animated films, 37 Entertainment, a Chinese animation studio with 175 employees, whi