files/pictures/picture-35.jpgMagnolia's genre arm Magnet Releasing has acquired the U.S. rights to John Woo's historical epic RED CLIFF, according to VARIETY
. Magnet plans to release an edited version of the two-part film in the fall. The Chinese-lingo flicks have already earned $100 million in Japan. The film follows the events of the Battle of Red Cliffs during the ancient Three Kingdoms period in China.