'Red Cliff' Investors Cover Costs

Investors in John Woo's blockbuster "Red Cliff" have recouped the $80 million spent making Asia's most expensive film, producer Terence Chang said.

The sale of the movie's distribution rights in Asia has covered its costs, Mr. Chang said in a phone interview. "Red Cliff," a five-hour story about warring nations in China in 208 C.E. that waged an epic naval battle, is the first movie Mr. Woo has directed in Asia since he left Hong Kong for Hollywood two decades ago to make hits such as "Face/Off" and "Mission: Impossible II."

"The scale, reach, and appeal of this movie's subject matter is unprecedented in Asia," said Joseph Liao, production manager at Taiwan's CMC Entertainment Group, which invested $10 million in the project. The movie's other owners include the state-run China Film Group, South Korea's Showbox Entertainment, and Japan's Avex Entertainment Corp.

Mr. Liao said "it's safe to assume" CMC will recover its investment through the sale of screening rights. China Film and Showbox couldn't be reached for comment.

"Red Cliff" will be edited into a 2 1/2-hour version for screening in Europe later this year. It will be shown in two parts for Asian audiences: The first is scheduled for an Asia-wide release on July 10, while the second is planned for late January. Producers are in talks with potential American distributors, Mr. Chang said.