Magnolia in 'Cashback,' 'Escrow' deal


NEW YORK -- Magnolia Pictures is looking to make some quick cash on two indie comedies, releasing "Cashback" and "Closing Escrow" nearly simultaneously in theaters and via its sister HDNet cable network and DVD label.

The Todd Wagner/Mark Cuban-owned distributor picked up U.S. rights to Sean Ellis' "Cashback," a surreal look at a supermarket clerk's insomnia-inspired fantasies, adapted from Ellis' Oscar-nominated short. It will air on HDNet on July 18 before hitting theaters two days later and DVD stores July 24.

Magnolia picked up North American rights to Armen Kaprelian's "Escrow," a broad satire of the fierce competition between three real estate agents. As with "Cashback," the film will reach theaters two days after its Aug. 22 HDNet premiere, with an Sept. 4 DVD release to follow.

Magnolia execs Tom Quinn and Jason Janego negotiated the "Cashback" deal with Gaumont head of sales and acquisitions Loic Trocme. Magnolia president Eamonn Bowles negotiated the "Escrow" deal with George Davis of Nelson, Felker, Toczek, Davis LLP.