Asia's leading movie sales company Distribution Workshop (DW) will soon regain its independence from China's Bona Film Group. DW founders Jeffrey Chan and Nansun Shi increased their company shares from 46 to 60 percent, in turn decreasing Bona's share to a minority position of 40 percent.
Independence from Bona Film will allow DW to expand its business from mere distribution and sales to production and financing. It will also allow the Hong Kong-based company to expand its market into cinemas further into mainland China.
The move will also allow possibilities of capitalizing into other business ventures such as television, licensing and ancilliaries, though the company may need a new round of financing and fundraising to be able to do so.
Chan revealed that he is not planning to further relinquish his role within Bona where he currently serve as COO, reporting to Yu Dong, Bona's CEO, chairman and founder.
DW's new freedom includes the right to refuse any film project by Bona.
As former board director of Bona, Shi is considered one among Asia's top-level producers with credits such as "Internal Affairs" and "Detective Dee" on her track record. Shi will be a keynote speaker at the Bridging the Dragon conference, which will be held in Berlin on Feb.10.
Chan and Shi are producers of "In the Room," a romantic-erotic drama directed by Singaporean filmmaker Eric Khoo. The movie is now in post-production, but has little chance of being screened in mainland China due to its subject matter. The film was financed by Bona.
In Berlin, DW is screening Tsui Hark's "The Taking of Tiger Mountain" and other Bona films such as Derek Yee's "The Swordmaster" and "The White Haired Witch of Lunar Kingdom."