it by year, even if that means abandoning his proclamation that DWA would try to release three pictures in a single year, every other year." In 2010, DWA became the first animation studio that released three feature-length CG-animated films in a year. The same year, the company purchased the film rights to the Trolls franchise. Diversification and expansion (2012–2015) In July 2012, DreamWorks Animation won a $155 million bid to acquire Classic Media, which has since been renamed to DreamWorks Classics. In August 2012, DreamWorks Animation formed a joint venture with Chinese investment companies to establish a Shanghai-based entertainment company, named Oriental DreamWorks, to develop and produce original Chinese films and their derivatives. According to a Los Angeles Times report, DreamWorks Animation was in talks with Sony Pictures to distribute its upcoming films, such as the 2013 releases of The Croods and Turbo. The report also mentioned a possibility where Sony would handle United States distribution while 20th Century Fox would handle international distribution. Renewal of the deal with Paramount was also open, but only with more favorable terms for Paramount (they even offered a one-year extension of the deal, but Katzenberg desired to get a better deal). Around the same time, DreamWorks Animation entered talks with Warner Bros. for a potential distribution deal as well, only to be turned down by the studio. In August 2012, DreamWorks Animation signed a five-year distribution deal with 20th Century Fox for all territories. However, the deal did not include the distribution rights of previously released films, which DWA acquired from Paramount later in 2014. Rise of the Guardians (2012) was the last DreamWorks Animation film to be distributed by Paramount, and The Croods became the first DreamWorks Animation film to be distributed by Fox. On April 11, 2013, DreamWorks Animation announced that it has acquired the intellectual property for the Trolls franchise from the Dam Family and Dam Things. DreamWorks Animation, which has "big plans for the franchise", has become the exclusive worldwide licensor of the merchandise rights, except for Scandinavia, where Dam Things remains the licensor. On May 1, Katzenberg and DWA announced their intent to purchase YouTube channel AwesomenessTV, which was finalized later in the month. The following month, DWA announced a multi-year content deal to provide 300 hours of exclusive original content to the video on demand Internet streaming media provider, Netflix. Part of the intent of the deal