The Chinese distributor that recently secured a strategic investment from News Corp said it is in discussions with Universal, Sony, Paramount and News Corp’s Fox about co-producing movies for global distribution. Bona CEO Dong Yu told the Wall Street Journal that the company hopes to do two movies a year through such co-productions, with an eye toward kicking off the first project in 2013. Dong said that this month’s deal with News Corp — in which Rupert Murdoch’s company acquired a 19.9% equity stake — does not include a production component, though he said he’d like to work with Fox as a “preferred partner”. China’s film market is expected to hit $5 billion by 2015, and the studios like DreamWorks Animation and Disney have already struck co-production deals there; in April, Disney, Marvel Studios and DMG Entertainment announced that Iron Man 3 will be co-produced there.
China's Bona Film Group Talking With Hollywood Studios About Co-Prods: WSJ
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