Netflix is officially moving into theaters with the film Sherrybaby.

In a story from Variety, the company has made "one of its biggest distribution deals" picking up the rights to the film starring Maggie Gyllenhaal. IFC Films is going to handle the theatrical portion of this pact.

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This agreement is "the first announced since former Miramax and Intermedia exec Bahman Naragi" joined Netflix. This seems to follow the companies plan of handling distribution (and not just rentals) so it could see more profits on home grown titles.

Sherrybaby centers on a convict who has just been released from prison. Netflix did not reveal how much they bought the movie for.