According to The Hollywood Reporter, angry teen revenge flick Hard Candy was sold late Monday night during the Sundance Film Festival in a $4 million deal that has a big potential upside for the indie filmmakers. Distributor Lions Gate Films purchased North American and worldwide rights, with the exception of the United Kingdom, Australia and Spain, for $2.25 million against 20% of the gross.
The other three territories are being negotiated separately, with the United Kingdom likely to go to Red Bus, Aurum Films buying Spain and Mel Gibson's Icon Prods. purchasing Australian rights.
Lions Gate won the bidding war against New Line Cinema. Focus Features dropped out of the deal before bidding got too hot. "What differentiates Lions Gate's offer is the gross corridor," said Rena Ronson, an agent with William Morris Independents who negotiated the deal along with her partner Cassian Elwes, Doug Stone and Rosanne Korenberg of Traction Media. "This is a very attractive deal for the filmmakers and the financiers."