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News Corp to acquire 20 percent of Chinese film distributor

yahoo.com (1 year and 11 months ago)

May 15, 2012

BEIJING (Reuters) - News Corp has agreed to buy a stake in Chinese movie distributor Bona Film Group Ltd, becoming the latest U.S. media company to expand into China's booming movie market. News Corp will take a 19.9 percent stake in Bona Film from founder and chief executive Yu Dong, Bona said in a statement. It gave no financial details. The Nasdaq-listed company has a market capitalization of about $392 million. China, which posted box... full story

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