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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“On behalf of all nominees, we would like to express our unanimous and emphatic disapproval of the climate of fanaticism and nationalism we see today in the U.S. and in so many other countries, in parts of the population and, most unfortunately of all, among leading politicians.

“The fear generated by dividing us into genders, colors, religions and sexualities as a means to justify violence destroys the things that we depend on – not only as artists but as humans: the diversity of cultures, the chance to be enriched by something seemingly ‘foreign’ and the belief that human encounters can change us for the better. These divisive walls prevent people from experiencing something simple but fundamental: from discovering that we are all not so different.

“So we’ve asked ourselves: What can cinema do? Although we don`t want to overestimate the power of movies, we do believe that no other medium can offer such deep insight into other people’s circumstances and transform feelings of unfamiliarity into curiosity, empathy and compassion – even for those we have been told are our enemies.

“Regardless of who wins the Academy Award for Best Foreign Language Film on Sunday, we refuse to think in terms of borders. We believe there is no best country, best gender, best religion or best color. We want this award to stand as a symbol of the unity between nations and the freedom of the arts.

“Human rights are not something you have to apply for. They simply exist – for everybody. For this reason, we dedicate this award to all the people, artists, journalists and activists who are working to foster unity and understanding, and who uphold freedom of expression and human dignity – values whose protection is now more important than ever. By dedicating the Oscar to them, we wish to express to them our deep respect and solidarity.”

Martin Zandvliet – Land of Mine (Denmark)
Hannes Holm – A Man Called Ove (Sweden )
Asghar Farhadi – The Salesman (Iran)
Maren Ade – Toni Erdmann (Germany)
Martin Butler, Bentley Dean – Tanna (Australia)

“I don’t really believe in guilty pleasures. I like to subscribe to Susan Sontag’s thought of no highs and lows. I think dismissing popular culture and popular films can be really dangerous because they may seem innocuous, but some are works of art and even when they’re not they can say so much about the culture that they’re reflecting. This also gets into the idea of canon. What is good and isn’t good? Lately, I’ve been thinking a lot about that. Specifically, who writes these canons? Mainly, straight white guys — which basically rigs the system. So, if you have a knowledge of female filmmakers, queer filmmakers, African or Asian filmmakers, some people won’t give them the same culture capital. They’ll say, “Oh, that’s nice niche knowledge.” No, it’s not. You’re just seeing it through the prism of something white and male. Like Shonda Rhimes’ ‘Scandal.’ I love that show, but is it a guilty pleasure because it’s a soap on TV? No. I think it has incredible writing, incredible thought and characters, so we should take it seriously. That’s a long-winded answer to say, “Yes, I love Titanic.” I was 10 years old when it came out and my mom took me to see it three times. I was so obsessed with it. A big thanks to my mom who’ll never get those nine hours of her life back.”
~ Toronto Int’l Programmer and Critic Kiva Reardon