EXCLUSIVE: In a development that is a fitting epitaph for a 2020 Sundance Film Festival acquisitions market dominated by streamers, Deadline hears that the fest’s biggest sale title — the WW rights deal for Palm Springs — was actually worth substantially more than what was reported last week by winning bidders Hulu and NEON. Sources familiar with the heated multi-bidder auction said that the value of the deal was actually closer to $22 million, far and away the biggest Sundance deal of all-time. That’s much larger than the $17.5 million and 69 cents Hulu and NEON said they paid to slightly beat the $17.5 million Searchlight Sundance record for The Birth of A Nation. That reported number reflected the acquisition fee, but there is a built in bonus structure that I’m told guarantees the $22 million. Insiders acknowledged that the bonus structure was not fed to the press. Since most of the value of the bid has to do with the Hulu streaming service, this is not some pie in the sky number that can only be earned if the stars aligned. It was the price paid for the movie, quite a premium for a comedy with a modest budget…. Read full this story
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