Magnet attracts ‘Red Cliff’

Magnolia genre label to distrib Woo pic in U.S.

Magnolia genre label Magnet Releasing has picked up U.S. distribution rights to John Woo’s two-part historic epic “Red Cliff,” and will release an abridged version in the fall.

“Red Cliff I” and “Red Cliff II,” which have grossed more than $100 million in Japan alone, is Woo’s first Chinese film since “Hard Boiled” in 1992.

Combined, the two-part film is China’s top-grossing pic of all time, but a U.S. distrib has been long in coming.

The running time of the U.S. theatrical version will be 150 minutes. Magnet also is planning to make both films available on VOD and DVD.

E1 will release the film simultaneously in Canada.

 Summit Entertainment is handling international sales.

The $80 million “Red Cliff” was produced by Terence Chang, and financed by China film Group, Avex (Japan), CMC (Taiwan) and Showbox (Korea).

Deal was negotiated by Magnet senior VP Tom Quinn and business affairs topper Chris Matson, and on the producers’ side, CAA and attorney Howard Frumes.