News Corp. Buys 20% Stake In Chinese Film Co.

Law360, New York (May 15, 2012, 1:06 PM EDT) -- Rupert Murdoch's News Corp. has expanded its Asian presence by purchasing a 20 percent equity stake in Chinese film company Bona Film Group Ltd. directly from its CEO, Bona Film said Monday.

The Beijing-based film company said founder, chairman and CEO Dong Yu agreed to sell 19.9 percent of his stake to News Corp. The deal is the first diversification of ownership for Bona Film since it went public in 2010.

Though the purchase price of the stake was not disclosed, Bona Film said that Yu...
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