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Chinese internet television company Youku.com (NYSE:YOKU) is trading higher on the news that it has signed a distribution agreement with DreamWorks Animation (DWA) for rights to DreamWorks’ KungFu Panda franchise films in Mainland China.
The companies noted this is the first time DreamWorks titles, distributed by Viacom’s (NASDAQ:VIA) Paramount Pictures, will be made available via an online platform in China.
DreamWorks said its KungFu Panda and KungFu Panda 2 have grossed over $1.25 billion in box office receipts worldwide, and are “wildly popular” with Chinese audiences.
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