SUBMITTED BY LClem

December 5, 2002 — In an unusual move, Chinese video rights to Zhang Yimou's widely-anticipated martial arts epic Hero were sold at an auction last week in Beijing, where they fetched a record-breaking $2.15m. Around 18 companies paid a deposit of $36,000 (RMB300,000) to join the bidding, which started at $965,000 (RMB8m). The film finally went to a consortium of three Guangdong distributors ?TCL Culture Development Co, Guangdong Face Audio and Video Production Co and Guangdong Wei Kai Audio & Video Product Co. The 90-minute auction was organised by Hero Chinese co-producer, Beijing New Picture Film Co, as more than 30 local companies were clamouring to acquire mainland video rights. More at the link: