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Bona Details Expansion Plans

2012-06-06 15:30:55        Chinese Films

Yu Dong.[Photo:filmbiz.asia]

China's Bona Film Group Ltd this week confirmed its growing interest in US co-production and named four American companies it is negotiating with.

Bona, which last year signalled its growing interest in English-language production, this week said it is in talks with Universal Pictures, Sony Corp, Twentieth Century Fox and Paramount Pictures.

Group founder and CEO Yu Dong (pictured) said that he hopes the company will engage in two US co-productions per year, with the first in 2013.

Yu last month announced a deal to sell 20% of Bona to Fox's parent company News Corp.

In recent weeks Bona has increased its revolving credit facility with Bank of Beijing from $15.8m (RMB100m) to $79m (RMB500m). It says that it will use the facility over the next two years to expand its production of film and TV series, notably a spin-off series of Bodyguards and Assassins (2009).

NASDAQ-listed Bona also recently announced a deal with US tech group RealD to install 100 3-D screens in Bona's theatre chain. Bona said it will use RealD 3-D systems at each of its 11 multiplexes.

Source: Film Business Asia/by Patrick Frater

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