Cannes Market Dailies

In the latest example of co-production between Hollywood and China, which already holds the title of world's second largest film territory, chinese animation company Mili Pictures Worldwide has announced the opening of its Los Angeles office as well as its first Hollywood production. Dragon Nest: Warrior's Dawn follows the trend of video game to movie adaption (like Tomb Raider, Prince of Persia, and Silent Hill, among others, before it).  The animated feature based on the MMORPG (mass multiplayer online role playing game) of the same name will premier on July 31st at China Joy, the nation's largest video game convention.  

The film will be produced by High School Musical and Mission Impossible: 3's Bill Borden, and distributed by All Rights Entertainment.

Mili may continue to produce films based on popular gaming properties thanks to their relationship with Shanda Games, according to the The Hollywood Reporter.

In other animation related news, Russia's Wizart Animation's films, in particular The Snow Queen, The Snow Queen 2, and Sheep and Wolves are being quickly snapped up for theatrical rights worldwide.