Cannes: Amazon Nabs 'Les Miserables' for $1.5 Million

Courtesy of SRAB Films/Rectangle Productions/Lyly films

The film, from writer-director Ladj Ly, screened in competition Wednesday and drew raves for its gritty, loose take on the Victor Hugo novel of the same name.

Amazon Studios has nabbed U.S. rights to the French-language drama Les Miserables, marking the first significant deal for a domestic acquisition at the Cannes market.

The film, from writer-director Ladj Ly, screened in competition Wednesday and drew solid reviews for its gritty, loose take on the Victor Hugo novel of the same name. CAA Media Finance negotiated the deal on behalf of Ly, who was recently signed by the agency. Wild Bunch is handling international sales.

A source pegged the deal at $1.5 million, making it the biggest sale ever at Cannes for a first-time director.

Written by Ly, Giordano Gederlini and Alexis Manenti, the film chronicles the grim realities of life in the projects in Paris' suburbs and was inspired by riots in 2005 that sparked headlines around the world.

Toufik Ayadi and Christophe Barral produced.

The acquisition gives Amazon a potential best foreign-language contender come Oscar time considering the reviews out of Cannes.