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EuropaCorp has acquired U.S. rights to James Ponsoldt’s tech-world drama-thriller The Circle. The deal was pegged at about $10 million, a source told The Hollywood Reporter.
CAA and UTA, which repped the film, were poised to bring seven minutes of footage to Berlin’s European Film Market but took the deal with EuropaCorp, which bought the film sight unseen. The Circle was expected to be one of the hottest promos at the market.
The $10 million price tag also marks one of the largest deals ever for U.S. rights to a film presented at a festival.
Emma Watson and Tom Hanks star in the feature based on Dave Eggers‘ 2013 novel, whose story centers on a recent college graduate (Watson) who lands a job at a powerful tech company called The Circle, which is co-owned by a charismatic man (Hanks). John Boyega, Patton Oswalt and Ellar Coltrane co-star.
The project first came together in December 2014, when Hanks and Gary Goetzman’s Playtone production company became attached. Last year, veteran indie producer Anthony Bregman (Begin Again, Foxcatcher) came onboard the pic, giving it further momentum. On the eve of Cannes last year, Walter Parkes and Laurie MacDonald, who together produced the Men in Black franchise and Denzel Washington starrer Flight, also became attached in a financing capacity (they brought in their fund partners at Image Nation Abu Dhabi to fully finance).
IM Global already has sold most of the foreign territories to The Circle coming into Berlin, but it will be screening the pic during the market for remaining territories.
Goetzman also is producing The Circle with Hanks, Bregman and Ponsoldt.
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