By MCN Editor editor@moviecitynews.com

Bona Film Group Secures Strategic Investment From News Corporation: Global Media Company to Purchase Minority Stake

BEIJING, May 13, 2012 — Bona Film Group Limited (Nasdaq:BONA), a leading film distributor and vertically integrated film company in China, today announced that the Company has secured a strategic investment from News Corporation.

Under the investment agreement, News Corporation will acquire a 19.9% equity stake in Bona directly from the Company’s Founder, Chairman and CEO, Mr. Dong Yu.

Mr. Yu has entered into separate agreements to acquire 1,000,000 Bona ordinary shares from SIG China Investments One, Ltd., 1,000,000 Bona ordinary shares from Matrix Partners China Funds and 1,500,000 Bona ordinary shares from the Sequoia Funds, at an average price of $11.40 per share, or $5.70 per American Depositary Share.

“We are thrilled to receive this strategic investment from News Corporation,” said Dong Yu, Founder, Chairman and CEO of Bona Film Group Limited. “As one of the leading film distributors in China, we are committed to bringing the best quality Chinese films to broad
audiences around the world. News Corporation’s extensive global reach, investment and distribution will help accelerate our strategy to expand our global footprint.

“Since our IPO in 2010, we have developed our business significantly and we believe now is the time to diversify our ownership structure by introducing select strategic investors. This is an exciting period of growth for China’s film industry, and we look forward to exploring the international commercial opportunities for Chinese films with our new partner,” Mr. Yu concluded.

“One of Bona’s unique advantages is its vertically-integrated business model, which differentiates the Company from other film distributors in China,” said Dr. Jack Gao, SVP, News Corporation & CEO, News Corporation China Investments. “China’s film market is growing at a rapid pace, positioning the country to be the second largest film market following the United States, and Bona’s market leadership, compelling value proposition and tremendous growth potential make this an attractive opportunity for News Corporation.”

Following the close of these transactions, Mr. Yu’s ownership will be reduced to 8,210,803 ordinary shares (not including options to purchase 545,615 ordinary shares), representing approximately 27.0% of the Company’s ordinary shares outstanding. These transactions are expected to close in the next 15 days and are subject to customary closing conditions.

About Bona Film Group Limited

Bona Film Group Limited (Nasdaq:BONA) is a leading film distributor in China, with an integrated business model encompassing film distribution, film production, film exhibition and talent representation. Bona distributes films to Greater China, Korea, Southeast Asia, the United States and Europe, invests and produces movies in a variety of genres, owns and operates 13 movie theaters and manages a range of talented and popular Chinese artists.

For more information about Bona, please visit http://www.bonafilm.cn.

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“My father was a Jerome. My daughter’s middle name is Jerome. But my most vexing and vexed relationship with a Jerome was with Jerome Levitch, the subject of my first book under his stage and screen name, Jerry Lewis.

I have a lot of strong and complex feelings about the man, who passed away today in Las Vegas at age 91. Suffice to say he was a brilliant talent, an immense humanitarian, a difficult boss/interview, and a quixotic sort of genius, as often inspired as insipid, as often tender as caustic.

I wrote all about it in my 1996 book, “King of Comedy,” which is available on Kindle. With all due humility, it’s kinda definitive — the good and the bad — even though it’s two decades old. My favorite review, and one I begged St. Martin’s (unsuccessfully) to put on the paperback jacket, came from “Screw” magazine, which called it “A remarkably fair portrait of a great American asshole.”

Jerry and I met twice while I was working on the book and spoke/wrote to each other perhaps a dozen times. Like many of his relationships with the press and his partners/subordinates, it ended badly, with Jerry hollering profanities at me in the cabin of his yacht in San Diego. I wrote about it in the epilogue to my book, and over the years I’ve had the scene quoted back to me by Steve Martin, Harry Shearer, Paul Provenza and Penn Jillette. Tom Hanks once told me that he had a dinner with Paul Reiser and Martin Short at which Short spent the night imitating Jerry throwing me off the boat.

Jerry was a lot of things: father, husband, chum, businessman, philanthropist, artist, innovator, clown, tyrant. He was at various times in his life the highest-ever-paid performer on TV, in movies, and on Broadway. He raised BILLIONS for charity, invented filmmaking techniques, made perhaps a dozen classic comedies, turned in a terrific dramatic performance in Martin Scorsese’s “The King of Comedy,” and left the world altered and even enhanced with his time and his work in it.

That’s an estimable achievement and one worth pausing to commemorate.

#RIP to Le Roi du Crazy

~ Biographer Shawn Levy on Jerry Lewis on Facebook

“Billy Wilder said to me, ‘Those of us who are hyphenates deserve a couple more beats,’ and I knew what he meant. As a director, you make sure a scene is not beat-heavy. You need just enough beats in the rhythm. Billy also used to say, ‘Whatever you do, is your mark. You don’t have to go out and impress someone. Let them look at your work.’”
~ Jerry Lewis