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Fox Searchlight is the latest to break out the wallet, picking up most worldwide rights to the competition film Homework Sunday night for north of $3 million not long after its world premiere earlier in the day.
UPDATE: THR originally reported the price as around $2 million, but multiple sources indicate Monday that the sale price was more than $3 million, with a significant theatrical release commitment.
First-timer Gavin Wiesen wrote and directed the ICM-repped film, which the Fox indie shop plans to release in 2011. Emma Roberts and Freddie Highmore star as high school seniors who form a bond that veers toward romance in their last year of school. Michael Angarano, Elizabeth Reaser, Rita Wilson, Sam Robards and Blair Underwood also star in the film. [Read The Hollywood Reporter’s review here.]
“Homework is a real coming of age story, it touched us with its genuine performances, depth and wit,” Searchlight president Nancy Utley said. “We’re thrilled to continue Searchlight’s tradition of being a home to first time filmmakers.”
P. Jennifer Dana, Kara Baker, Gia Walsh and Darren Goldberg produced the film.
Searchlight execs Ray Strache, Tony Safford and Megan O’Brien negotiated the deal with ICM on behalf of the filmmakers. Goldcrest Films is handling International sales.
Searchlight already has Tom McCarthy’s Win Win in the fest program, as well as Cedar Rapids, the Miguel Arteta-directed comedy starring John C. Reilly, Ed Helms and Anne Heche. Searchlight picked up Adam, Choke and Once at recent Sundance fests, and it rode the high school-set comedy Juno to $227 million worldwide in 2007.
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