Sundance Deal Blizzard Continues

January 29, 2007 (Press Release) -- Usually there’s one or two films that hit the jackpot with distributors at Sundance Film Festival. Last year it was Oscar nominee Little Miss Sunshine, and the year before, the urban hit Hustle and Flow. This year the distributors came with their checkbooks ready. The Weinstein Company plunked down $4 million for Grace is Gone, and partnered with Fox Searchlight for a multimillion dollar bet on The Same Moon. They also picked up the controversial coming of age film Teeth with Lionsgate. Fox Searchlight spent between $4 and $5 million for Waitress, while Paramount Vantage ponied up $7 million for the rights to Son of Rambow, and another $3 million for How She Move. Warner Independent Pictures plunked down $4 million for Clubland, and the list continues.

First Look Pictures has the latest acquisition with Thursday’s purchase of the Michael Douglas vehicle King of California, and negotiations are still in progress on Jake Paltrow’s debut film A Good Night.

The degree of investment in films that were brought to Sundance this year was unexpected and unprecedented. "The level of commitment that buyers are making exceeds any festival in recent memory in terms of the breadth and scope of their investment," Sundance Film Fest director Geoff Gilmore was quoted by Daily Variety. Two films are still looking for a home - the festival’s opening night feature Chicago 10, and the highly controversial Hounddog, starring Dakota Fanning.

Source: http://www.yahoo.com
Posted By Dennis Michael