BREAKING: Magnolia Pictures genre label Magnet Releasing has completed an acquisition of V/H/S, the Midnight movie thriller. Deal was low seven figures for North American rights. V/H/S is about a group of misfits hired by an unknown third party to burglarize a desolate house to acquire a rare VHS tape, and discover more found footage than they bargained for. The film is basically a found footage anthology of various VHS tapes that tell different horror tales, with different segments directed by Adam Wingard, David Bruckner, Ti West, Glenn McQuaid, Joe Swanberg, and Radio Silence. As Deadline reported yesterday, a moviegoer passed out last night during a midnight screening of the genre film, which is becoming a badge of street cred for festival horror films. EMTs came, after the moviegoer passed out–during the first particularly gruesome scene. Another audience member was treated for nausea about 20 minutes later. The title was acquired by Magnolia’s Eamonn Bowles and Dori Begley and sold by WME Global’s Mark Ankner. Plans are for a theatrical release in the fall and then VOD.