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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Julian Schnabel: Years ago, I was down there with my cousin’s wife Corky. She was wild — she wore makeup on her legs, and she had a streak in her hair like Yvonne De Carlo in “The Munsters.” She liked to paint. I had overalls on with just a T-shirt and looked like whatever. We were trying to buy a bunch of supplies with my cousin Jesse’s credit card. They looked at the credit card, and then they looked at us and thought maybe we stole the card, so they called Jesse up. He was a doctor who became the head of trauma at St. Vincent’s. They said, “There’s somebody here with this credit card and we want to know if it belongs to you.”

He said, “Well, does the woman have dyed blonde hair and fake eyelashes and look like she stepped out of the backstage of some kind of silent movie, and is she with some guy who has wild hair and is kind of dressed like a bum?”

“Yeah, that’s them.”

“Yeah, that’s my cousin and my wife. It’s okay, they can charge it on my card.”
~ Julian Schnabel Remembers NYC’s Now-Shuttered Pearl Paint

MB Cool. I was really interested in the aerial photography from Enter the Void and how one could understand that conceptually as a POV, while in fact it’s more of an objective view of the city where the story takes place. So it’s an objective and subjective camera at the same time. I know that you’re interested in Kubrick. We’ve talked about that in the past because it’s something that you and I have in common—

GN You’re obsessed with Kubrick, too.

MB Does he still occupy your mind or was he more of an early influence?

GN He was more of an early influence. Kubrick has been my idol my whole life, my own “god.” I was six or seven years old when I saw 2001: A Space Odyssey, and I never felt such cinematic ecstasy. Maybe that’s what brought me to direct movies, to try to compete with that “wizard of Oz” behind the film. So then, years later, I tried to do something in that direction, like many other directors tried to do their own, you know, homage or remake or parody or whatever of 2001. I don’t know if you ever had that movie in mind for your own projects. But in my case, I don’t think about 2001 anymore now. That film was my first “trip” ever. And then I tried my best to reproduce on screen what some drug trips are like. But it’s very hard. For sure, moving images are a better medium than words, but it’s still very far from the real experience. I read that Kubrick said about Lynch’s Eraserhead, that he wished he had made that movie because it was the film he had seen that came closest to the language of nightmares.

Matthew Barney and Gaspar Noé