DreamWorks wants access to the growing Russian market but knows from high-profile failures like BP that it's smarter to go the licensing route than trying to invest directly.
DreamWorks Animation SKG Inc. says it is licensing its characters to a developer of theme parks in Russia.
The Regions Group of Companies plans to open parks in St. Petersburg, Moscow and the Ural Mountains city of Yekaterinburg in 2015.
DreamWorks said Friday that the parks will be Europe’s largest year-round indoor entertainment zones. The zones will be part of larger entertainment complexes, each featuring a mixed-use movie and concert hall, a movie theater, a hotel and a retail center.
Some franchises that are to be featured at the parks include “Shrek,” ”Madagascar,” ”How to Train Your Dragon” and “Kung Fu Panda,” as well as upcoming films such as “Turbo,” a movie set to debut in July about a snail that gets super speedy powers.
DreamWorks shares were up 54 cents, or 3.2 percent, at $17.48 in afternoon trading on Wall Street Friday.
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Photo Credit: Tourists pose with Shrek at Universal Studios theme park. Spine / Flickr