Last week, another big media acquisition was announced: U.S. cable and media company Comcast announced it would buy Dreamworks Animation, the studio responsible for hits like Kung Fu Panda and Shrek.
As CCTV America’s May Lee reports, Comcast’s move is just another example of the growing importance of building a strong China strategy.
Mega mergers and the China factorU.S. media company Comcast announced it will buy Dreamworks, the studio responsible for hits like Kung Fu Panda and Shrek. One major factor is the need for a good strategy in the Chinese market.
According to industry insiders, Dreamworks’ CEO, Jeffrey Katzenberg, was being courted by a potential Chinese buyer.
The deal, which is subject to regulatory approval, gives Comcast more ammunition to compete against Disney and its worldwide properties, which include successful theme parks. Comcast wants to do the same worldwide, specially in China.
A Chinese buyer may have lost out on Dreamworks, but more opportunities are surfacing.