Magnolia takes rights to 'Warlords'

Jet Li, Andy Lau, Takeshi Kaneshiro star

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CANNES -- Magnolia Films has picked up North American rights to "The Warlords," a big-budget historical actioner that features Asian superstars Jet Li, Andy Lau and Takeshi Kaneshiro.

The deal was struck after protracted negotiations with Hong Kong studio Media Asia, which was one of the lead investors in the picture and handled sales duties in multiple territories.

The film, directed by Peter Chan Ho-sun was released in China in late 2007 and scored more than $28 million at the local boxoffice.

Magnolia is looking to give the film a platform release at year's end, though it also might use an outing at a U.S. festival to build awareness.