Fox International Productions, Bona unveil production deal
The announcement follows a deal signed this May in which FIP parent company News Corp acquired a 19.9% equity stake in Bona.
Fox International Productions and Chinese studio Bona Film Group have announced a multi-picture deal to produce Chinese-language films together.
The two companies will also work together to develop and distribute the films they co-produce. No details were given of the projects they intend to produce together.
The announcement follows a deal signed this May in which FIP parent company News Corp acquired a 19.9% equity stake in Bona directly from the company’s founder and chairman Yu Dong.
“This is a significant step in what we believe will be a long-term, multi-facetedcollaboration with News Corp and its subsidiary companies,” said Yu.
“The films released under this partnership will combine Bona’s deep understanding of production, distribution and audience preferences in China with FIP’s international expertise to create movies that satisfy audiences’ growing demand for blockbuster characteristics. We look forward to the cooperation and anticipated opportunities with FIP.”
FIP president Sanford Panitch [pictured] said: “We continue to be excited about the opportunities in the world’s fastest growing market. Mr Yu’s vision for Bona combined with the company’s stature as one of the leading distributorsmakes for great opportunities to co-produce and co-distribute Fox International Productions films in China.”
FIP has also co-produced two films with Beijing-based Huayi Brothers - Hot Summer Days and Love In Space - and is planning a third project with the co-directors of these two films, Wing Shya and Tony Chan. FIP is also understood to be in talks with China’s Wanda Group about co-production projects.