Gao takes board position at Bona Film Group
China’s Bona Film Group has appointed News Corp senior vice president and CEO of News Corps’ China investments, Jack Gao, to its board of directors.
Gao replaces Nansun Shi, an active producer, who will resign from the company’s board to pursue other interests but will continue in an advisory role on Bona’s investment committee. Shi produced Bona’s 2010 hit Flying Swords Of Dragon Gate.
News Corp acquired a 19.9% equity stake in Bona Film Group earlier this year.
“As head of News Corp’s investments in China, Jack played an important role in their recent strategic investment in Bona, and we are pleased that he has agreed to take a more active role in our company by joining the board,” said Bona chairman and CEO Yu Dong.
Bona also reported second quarter revenues of $20.7m, an increase of 23.9% on the same quarter last year. Second quarter gross profit was $11.7m, an increase of 48.7% year-on-year. Bona said the increase in revenues was due to the growth of its exhibition business.