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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“Film festivals, for those who don’t know, are not exactly the glitzy red carpet affairs you see on TV. Those do happen, but they’re a tiny part of the festival. The main part of any film festival are the thousands of people with festival passes hanging on lanyards beneath their anoraks, carrying brochures for movies you have never and will never hear of, desperately scrabbling to sell whatever movie it is to buyers from all over the world. Every hotel bar, every cafe, every restaurant is filled to the brim with these people, talking loudly about non-existent deals. The Brits are the worst because most of the British film industry, with a few honourable exceptions, are scam artists and chancers who move around from company to company failing to get anything good made and trying to cast Danny Dyer in anything that moves. I’m seeing guys here who I first met twenty years ago and who are still wearing the same clothes, doing the same job (albeit for a different company) and spinning the same line of bullshit about how THIS movie has Al Pacino or Meryl Streep or George Clooney attached and, whilst that last one didn’t work out, THIS ONE is going to be HUGE. As the day goes on, they start drinking and it all gets ugly and, well, that’s why I’m the guy walking through the Tiergarten with a camera taking pictures of frozen lakes and pretending this isn’t happening.

“Berlin is cool, though and I’ve been lucky to be doing meetings with some people who want to actually get things done. We’ll see what comes of it.”
~ Julian Simpson 

“The difference between poetry and prose, and why if you’re not acculturated to poetry, you might resist it: that page is frightening. Why is it not filled? The two categories of people who don’t feel that way are children and prisoners. So many prison poets; they see that gap and experience it differently. I’m for the gap!”
~ Poet Eileen Myles