Kudos once more to our friends at Bloody Disgusting! Their much talked about "found footage within found footage" anthology film V/H/S has become the first horror film to be picked up at this year's Sundance Film Festival. More after the jump.
According to The Hollywood Reporter, "Magnolia Pictures is acquiring North American rights to V/H/S for slightly more than $1 million after coming out on top in a late-night bidding war that involved three prospective buyers, according to sources."
"The film, which had its premiere in Sundance's Park City at Midnight section on Sunday, will be given a pre-theatrical video-on-demand release as part of Magnolia's Ultra VOD program and it will also receive a significant release in theaters after the 30-day VOD window.
"Sources said that rights to the film in several foreign territories are in play, with offers on the table from potential buyers. V/H/S is the first horror title to be acquired at the 2012 festival.
"Several distributors had expressed interest in the found-footage-within-found-footage creeper, which follows a group of petty criminals who are tasked with finding a VHS tape in a remote and rundown house, only to discover an entire trove of recorded nastiness there. The horror anthology film was helmed by six directors: Adam Wingard, Glenn McQuaid, Radio Silence, David Bruckner, Joe Swanberg and Ti West.
"Roxanne Benjamin, Gary Binkow and Brad Miska produced the project, which was written by McQuaid, Bruckner, West, Simon Barrett, Matt Bettinelli-Olpin, Tyler Gillett, Justin Martinez, Chad Villella and Nicholas Tecosky."