DreamWorks Animation is moving into live-action. At a Beijing news conference last week, Jeffrey Katzenberg announced a co-production agreement between Oriental DreamWorks and the Chinese state-owned China Film Group Corp. The deal will result in a movie franchise based on the bestselling Chinese book series Tibet Code.

Katzenberg said that the film will become “China’s Indiana Jones,” while China Film Group chairman Han Sanping proclaimed that the film’s “characters represent traditional Chinese culture and Chinese morality.”

The Wall Street Journal offers the most in-depth piece I’ve read about the new Tibet Code deal. In the same article, they report that Oriental DreamWorks is working on its first production, Kung Fu Panda 3.

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