Fest scripts becoming pics via Slamdance

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The Slamdance Film Festival is jumping into the filmmaking business, partnering with Angel Baby Entertainment and executive producer Michael Malagiero to produce a feature each year from the winner of the new Slamdance Horror Screenplay Competition.

The winning writer will receive an upfront payment of $10,000 against 5% of the film's budget, plus net profit participation and payments for future sequels.

Each film will begin production within months and be screened at the next year's festival. Deadlines for script submissions are Dec. 11.
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