The found-footage-within-found-footage creeper is the first horror title to be acquired at the festival this year. Magnolia Pictures nabbed North American rights to the horror film 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. Magnet Releasing, Magnolia's genre arm, will distribute the film.
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