Oriental Dreamworks, founded in 2012, is no longer. CMC Capital Partners (CMC), previously known as China Media Capital, has taken full ownership of Oriental Dreamworks, and is relaunching it as the 100% Chinese-owned Pearl Studio.

CMC’s goal is to turn Pearl into “one of the world’s leading creators of high quality animated content for every screen and platform.”

“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,” said CMC CEO and chairman Li Ruigang, who is sometimes described as the Chinese Rupert Murdoch. “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 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.”