As domestic buyers scoured the festival ahead of a slew of anticipated screenings over the coming days, the tempestuous North American distribution scene offered up its latest twist.
Both the star-studded portmanteau New York, I Love You and Nigel Cole's road movie $5 A Day received their world premieres in the same slot last night and are available for sale - despite already having distributors in place.
Vivendi Entertainment partly financed and holds North American rights to New York, I Love You, however WMI has a brief sales window in which to entice a more established distributor. Similarly $5 A Day is in line to open through the beleaguered THINKFilm and yet Endeavor is representing theatrical rights. Image Entertainment has already picked up all non-theatrical rights from Capitol.
Buyers have questioned the high asking price for each film - believed to be in the low seven-figure range - given the nature of a domestic distribution arena thwarted by closures and an overcrowded releasing calendar that often yields low returns. 'The marketplace is in a weird spot now so people have to be realistic about what they're asking for,' one acquisitions executive said.
As the festival entered the weekend buyers were preparing themselves for the usual flurry of available films like The Wrestler, Me And Orson Welles, Management, The Burning Plain, The Other Man, The Hurt Locker and Easy Virtue. Jeffrey Levy-Hinte's music documentary Soul Power has drawn interest from buyers in the US, UK, France and Australia.
Both the star-studded portmanteau New York, I Love You and Nigel Cole's road movie $5 A Day received their world premieres in the same slot last night and are available for sale - despite already having distributors in place.
Vivendi Entertainment partly financed and holds North American rights to New York, I Love You, however WMI has a brief sales window in which to entice a more established distributor. Similarly $5 A Day is in line to open through the beleaguered THINKFilm and yet Endeavor is representing theatrical rights. Image Entertainment has already picked up all non-theatrical rights from Capitol.
Buyers have questioned the high asking price for each film - believed to be in the low seven-figure range - given the nature of a domestic distribution arena thwarted by closures and an overcrowded releasing calendar that often yields low returns. 'The marketplace is in a weird spot now so people have to be realistic about what they're asking for,' one acquisitions executive said.
As the festival entered the weekend buyers were preparing themselves for the usual flurry of available films like The Wrestler, Me And Orson Welles, Management, The Burning Plain, The Other Man, The Hurt Locker and Easy Virtue. Jeffrey Levy-Hinte's music documentary Soul Power has drawn interest from buyers in the US, UK, France and Australia.
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