LOS ANGELES and SHANGHAI -- CMC Capital Partners, previously known as China Media Capital re-launched the animation studio as Pearl Studio taking full ownership of Oriental DreamWorks.

NBC Universal will be Partner With Pearl Studio on its 2019 CG comedy-adventure ‘Everest.’

With full ownership, CMC expands its commitment to build Pearl Studio into one of the world’s leading creators of high quality animated content for every screen and platform.

“We are enormously grateful to our JV partners and especially NBCUniversal,” said Li Ruigang, Chairman and CEO of CMC. “As Oriental DreamWorks evolves and relaunches as Pearl Studio, we have successfully accomplished the goals we envisioned when we began building this business many years ago. We have a world-class creative and development team and a robust and exciting pipeline of projects we are committed to bringing to screens around the globe. The Pearl Studio team includes veteran artists, writers, filmmakers and executives who have a proven track record of success and they are visionaries and innovators who understand the global dynamics of this exciting business. The animation market could not be stronger right now in China or globally. We believe Pearl Studio is in a very unique and enviable position to be a bold new independent voice in the animation community.”

Pearl Studio will be led by CEO Frank Zhu and Chief Creative Officer Peilin Chou. The senior executive team also includes Head of Studio Dagan Potter, Head of Ancillary Business PC Xu and Head of Operation Cindy Zhou.

“We have tremendous respect for Li Ruigang and CMC, and look forward to many opportunities to work together as they continue to build this business as Pearl Studio,” said Jeff Shell, chairman, Universal Filmed Entertainment Group.

NBCUniversal and its DreamWorks Animation will continue to collaborate with Pearl Studio on its 2019 worldwide release of Everest. DreamWorks Animation’s film, television, consumer products and digital gaming businesses will now be part of NBCUniversal’s product offerings in China.

Everest will be the first major global release of Pearl Studio. The comedy-adventure will be distributed by Universal Pictures outside of China, and within China, it will be distributed by Pearl Studio.

Slated for autumn 2019 and directed by Jill Culton, Everest takes audiences on a 3,000-mile journey from the streets of Shanghai to the breathtaking Himalayan snowscapes. When a group of misfits encounter a young Yeti named Everest, they embark upon an epic quest to reunite the magical creature with his family at the highest point on Earth.