EXCLUSIVE: Netflix has acquired global rights from IAC Films to The Meyerowitz Stories (New and Selected), the new film written and directed by Noah Baumbach.

The film, which has been mentioned on the shortlist of potential Cannes titles, will premiere in select theaters and on Netflix later this year. It stars Adam Sandler (who just reupped with Netflix for four more comedy star vehicles), Ben Stiller, Dustin Hoffman, Elizabeth Marvel (Homeland, House of Cards), Grace Van Patten (Tramps, Stealing Cars) and Emma Thompson. It’s described as an intergenerational tale of adult siblings contending with the influence of their aging father. Scott Rudin, Baumbach, Lila Yacoub and Eli Bush produced.

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It gives Netflix a film with an important filmmaker in the grownup film space with a star cast that once would have gone the prestige theatrical route. Instead, it will bolster the streaming service’s growing feature slate.

“Noah Baumbach is an important voice in American filmmaking, and his films are always highly anticipated around the world,” said Ted Sarandos, Netflix Chief Content Officer, in confirming the deal. “Noah is among the filmmakers that we were eager to work with, and I know that film enthusiasts everywhere will be as moved by this film as we were. We’re thrilled to be the avenue in which global audiences will be able to see the film.”

Baumbach directed the critically lauded Kicking and Screaming, The Squid and the Whale, Margot at the Wedding, Greenberg, Frances Ha, While We’re Young and Mistress America. He received an Academy Award nomination for Best Original Screenplay for The Squid and the Whale.