Posted: Tue., Dec. 3, 2002, 4:20pm PT

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'Hero' prize in rights auction

Pic opens Dec. 19 in Hong Kong, China

HONG KONG -- Distributor Beijing New Pictures has held China's first auction for mainland video rights, for Zhang Yimou's highly anticipated epic "Hero."

Pic went to a group of three companies after demand from more than 30 mainland firms forced the distrib to find a new way to award the video rights. "This is a fair and open way of doing business," said Qin Li Xin, deputy general manager of Beijing New Pictures.

PLC Culture Development, Guangdong Face Audio & Video Production and Guangdong Wei Kai Audio & Video Product Co. collectively put in the winning $2.15 million bid Saturday.

"Hero," starring Maggie Cheung, Tony Leung, Jet Li and Zhang Ziyi, gets a Hong Kong premiere Dec. 18 and opens Dec. 19 in Hong Kong and China.

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