CHINA TOPIX

Updated 11:29 AM EDT, Tue, Jun 16, 2020

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‘Shrek’ Revival in The Works With 'Kung Fu Panda,' 'How to Train Your Dragon' Remakes

Shrek

(Photo : REUTERS/FRED PROUSER) Shrek is a 2001 American computer-animated fantasy-comedy film directed by Andrew Adamson and Vicky Jenson.

Shrek revival is currently in the works six years after last movie installment. DreamWorks purchased the said movie to proceed with a remake, and NBC Universal, a company affiliated with Comcast, is working with the film production label.

Steve Burke, CEO of NBC Universal, told investors that they have purchased DreamWorks to produce up to four animated movies per year. The goal is to recreate popular characters to license merchandise and promote theme park attractions.

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How to Train Your DragonKung Fu Panda and Madagascar are other choices for a complete remake of the franchise, iDigital Times reported. NBC Universal announced the plan at an investors' conference on June 14.

Talent is not yet assigned for the Shrek film reboot. Possible acting candidates are reportedly Mike Myers, Eddie Murphy, Antonio Banderas, and Cameron Diaz.

According to reports, DreamWorks animation's projected financial flow from investors is 270 yuan ($41) share in cash with a 27 percent premium closing price of 212.05 yuan ($32.20) on June 15. The deal, which includes Dreamworks' debt, has been approved and will close by the end of the year. Dreamworks Animation was acquired by Comcast division of NBC Universal for 25.02 billion yuan ($3.8 billion).

The Shrek revival would add value as the company creates new franchises, especially in China. Burke stated that films seem to work more in Chinese theme parks. Beijing accommodates the Universal Studio park, while Shanghai has Disney. The 2007 release Shrek the Third holds the record for the biggest animated film opening weekend, generating 878 million yuan in revenue. 

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