SXSW: Magnolia Pictures Nabs North American Rights to 'Drinking Buddies'

Magnolia Pictures has acquired North American rights to writer-director Joe Swanberg’s Drinking Buddies.

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The film stars Olivia Wilde, Jake Johnson, Anna Kendrick and Ron Livingston and premiered at the SXSW Film Festival.

The story revolves around Kate (Wilde) and Luke (Johnson), who work together at a craft brewery. They have one of those friendships that feels like it could be something more. But Kate is with Chris (Livingston), and Luke is with Jill (Kendrick). And Jill wants to know if Luke is ready to talk about marriage. The answer to that question becomes crystal clear when the two couples go up to a cabin together and things get complicated.

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Swanberg, whose credits include Hannah Takes the Stairs and Silver Bullets, previously teamed with Magnolia on the film V/H/S.

The new film is produced by Dark Arts’ Alicia Van Couvering and Andrea Roa; Burn Later’s Paul M. Bernon and Sam Slater; and Swanberg.

Mike Witherill, Ashley Bernon, Jessica Klapman, David Kaplan, Anish Savjani and Wilde exec produced.

Magnolia Pictures is planning a theatrical release for later this year.

"Joe Swanberg has been evolving steadily as a filmmaker, and with Drinking Buddies, he’s delivered his best work yet -- a truly funny, smart and insightful film about real adult relationships," Magnolia president Eamonn Bowles said. “Olivia Wilde, Jake Johnson and the rest of the cast also deliver some of the best work of their careers. We’re raising an imperial pint in celebration.”

CAA repped the filmmakers. Dori Begley and Peter van Steemberg negotiated on behalf of Magnolia. 

Email: Tatiana.Siegel@THR.com, Twitter: @TatianaSiegel27