Sundance 2012: Magnolia Pictures Wrapping Up Deal for 'Nobody Walks' (Exclusive)

"Nobody Walks"

North American rights to Ry Russo-Young's Nobody Walks are being acquired by Magnolia Pictures. The film, which is screening in Sundance's U.S. Dramatic Competition section, is being sold in a mid-to-high six figures deal against significant gross incentives, according to a source close to the negotiations. The deal includes a theatrical commitment.

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The drama, co-written by Russo-Young and Lena Dunham (Tiny Furniture), centers on a young woman from New York who upends a family she stays with in Los Angeles while working on a movie.

Nobody Walks stars John Krasinski, Olivia Thirlby, Rosemarie DeWitt, Justin Kirk, India Ennenga and Dylan McDermott.

Josh Braun of Submarine represented the filmmakers in the sale.

Jonathan Schwartz, Andrea Sperling and Alicia Van Couvering produced Nobody Walks and Audrey and Zygi Wilf executive produced.

Magnolia picked up North American rights to the horror film V/H/S for north of $1 million early Thursday morning (Magnet Releasing, Magnolia's genre arm, will distribute the film), and it also nabbed the documentary The Queen of Versailles earlier during the festival.

On Wednesday, Sony Pictures Worldwide Acquisitions and Samuel Goldwyn Films grabbed North American rights to Robot & Frank for slightly more than $2 million; IFC Films purchased North American rights to Josh Radnor's Liberal Arts for seven figures; and Lionsgate and Roadside Attractions closed a deal to pick up U.S. rights to Arbitrage for a day-and-date theatrical-VOD release, much as the companies did for the 2011 Sundance thriller Margin Call. The sale price was just north of $2 million.

Email: Daniel.Miller@THR.com; Jay.Fernandez@THR.com

Twitter: @DanielNMiller; @Writer730