The moving electric-magnetic polarization saturation (EMPS) model is studied for two equal collinear interface cracks in mode-III dissimilar magneto-electro-elastic (MEE) bimaterial under semipermeable crack face conditions. The closed-form solutions of all three possible cases of the proposed EMPS model are derived using the distributed dislocation technique (DDT) and singular integral method. An iterative scheme and explicit expressions of fracture parameters are used to implement the semipermeable crack-face conditions. The study of local energy release rate based on constant electric and magnetic breakdown strength-based saturated conditions concludes that increasing the mismatch of the MEE bimaterial can improve its fracture toughness.