DreamWorks Animation (DWA) plans to set up a joint venture in Shanghai, a would-be Chinese partner of the U.S. animation giant said Friday.

The joint venture will be between DWA and a Chinese company created specifically for the project, sources with China Media Capital (CMC) confirmed with Xinhua, adding that the Chinese company has not yet been given a name.

The deal is set to be officially unveiled soon, the sources said.

The Chinese side involved in the deal was formed by three Shanghai-based groups -- CMC, Shanghai Media Group (SMG) and Shanghai Alliance Investment Ltd., the sources said.

With its registered capital estimated at over 100 million U.S. dollars, the joint venture will primarily focus on animation production but will also engage in other fields, such as research and development for film and television technologies and theme parks.

Established in 2009, CMC is a major private equity fund dedicated to media investments and helping China's media industry tap into the global market.

The state-owned SMG is the country's second-largest broadcaster, with assets worth over 1 billion U.S. dollars and nearly 10,000 employees.

Information about Shanghai Alliance Investment Ltd. is not immediately available.

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