News Corp has taken a stake in one of China’s biggest private film distributors, bolstering its position in a fast-expanding market that has offered both promise and frustration for western media groups.
Rupert Murdoch’s US media group said yesterday that it was buying a 19.9 per cent equity stake in Bona Film Group, a Nasdaq-listed film distributor and producer, from Dong Yu, the group’s founder, chairman and chief executive.
The move comes as the rapid growth of China’s tightly controlled film business is attracting the attention of Hollywood studios.
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