UPDATED 10:32 p.m. PT Jan. 22
PARK CITY — Paramount Vantage is in final negotiations for worldwide rights (except in the U.K.) to Nanette Burstein’s docu “American Teen.” Sources varied widely on the estimated final price for the deal, expected to close by sunrise Wednesday morning, with figures ranging from under $1 million to $2.5 million.
The A&E Indie Films production follows four Midwestern high school seniors: a cheerleader, a hipster, a jock and a band geek. Vantage may partner with its sister outlet MTV to market the film to a youth audience.
As one of the only narrative-driven docus and one of the few features garnering widespread acclaim on opening weekend, “Teen” quickly became a hot commodity.
Fox Searchlight and Vantage went after the film following its Saturday afternoon Library screening, with negotiations going well into Sunday morning. Sony Pictures Classics also entered into the fray and on Monday morning was rumored to have closed the deal.
Searchlight eventually dropped out in the $1-$2 million range. On Tuesday evening, after what insiders described as an unusually protracted negotiation process, SPC dropped out, leaving Vantage to land the pic.
CAA and Cinetic are co-repping the deal.
