Lions Gate Entertainment Corp., the Vancouver-based independent film production studio, said it bought closely held Redbus Film Distribution Ltd. of the U.K. for about $35 million in cash and stock.

The acquisition of London based Redbus will allow Lions Gate to distribute its films directly in the U.K., one of the largest film markets outside the U.S. and Canada, the company said today in a statement. The purchase also includes the Redbus film library, with about 130 titles such as "Bend It Like Beckham." The acquisition continues Lions Gate's strategy of acquisitions to build its film library and distribution business. The company offered in September to buy Image Entertainment Inc. of Chatsworth, California, for as much as $92.8 million. It purchased Santa Monica, California-based Artisan Entertainment in December 2003 for $160 million.

"We're going to be very picky with acquisitions, but when we see a company that fits the criteria, then we're going to continue to be entrepreneurial," Lions Gate Chief Executive Officer Jon Feltheimer said in an interview.

PhasellusShares of Lions Gate rose 4 cents to $8.81 at 4:01pm in New York Stock Exchange composite trading. They have fallen about 17 percent this year.

Lions Gate's film library contained more than 8,000 titles before the Redbus Acquisition.