A revival of the indie film business? Some promising signs out of Sundance [Los Angeles Times (CA)]
Sony Group Corporation American Depositary Shares (SONY)
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Source: Los Angeles Times
It was also my first time at the storied festival, and after chats with industry players around town and afterward, the picture that emerged was one of guarded optimism, despite the difficult landscape for theatrical films. So far, at least four deals were notched during the festival, including an old-fashioned bidding war for Olivia Wilde's comedy, “The Invite,” which ended up going to indie studio A24 for about $10 million. Other films that sold include horror flick “Leviticus,” which Neon purchased for a reported seven figures, comedy-drama “Ha-Chan, Shake Your Booty!” and drama “Bedford Park,” both of which were acquired by Sony Pictures Classics for undisclosed prices. Industry insiders told me the rate of deals coming out of Sundance this time appeared slightly faster than in previous years. As I've written before , most recent acquisitions have taken place in the later days of the festival, if not in the weeks and months afterward. That's a consequence of the pandemic-
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- SONY's page on the SEC website