EXCLUSIVE: Netflix is closing a deal for Life Sentence, the short story by Matthew Baker, sources said. Matt Reeves and his 6th & Idaho banner will develop the project as producers. Reeves, who’ll next direct the stand-alone iteration of Batman, recently moved his deal from Fox (where he made two Planet of the Apes films) to Netflix.

The deal is six figures against seven figures if the film gets made. That seems a strong likelihood given the ravenous bidding that took place over the last 24 hours. There were eight bidders fighting for this one all day, and things got really heated when a ninth — Apple — entered the mix with powerhouse producers ready to turn the short story into a TV show.

The other bidders were Amazon Studios, Warner Bros, Universal, Netflix, Gigi Pritzker’s MWM Studios, Fox 2000, New Regency and Gaumont.

In the end, it came down to Netflix for a movie deal, or Apple and Gaumont for a TV deal that would have paired Chris and Heather McQuarrie’s new TV company with Michael De Luca Productions. In the end, the author wanted to see this done as a movie, and so chose Netflix.

It is the third sci-fi short story Baker has sold to Hollywood. His first, Transition, sold to Amazon in a bidding war with Noah Hawley producing and Joe Epstein adapting. His second short story, The Appearance, sold to Makeready with The Picture Company producing.

Life Sentence is about a futuristic program where the memories of criminals are erased, instead of sending them to prison. The story focuses on one such man, who finds himself trying to reconcile his past actions and relationships.

CAA is closing the deal right now.

EARLIER EXCLUSIVE, 10:11 AM: Hollywood is hot and bothered over Life Sentence, a short story by Matthew Baker that has at least eight bids on the table. Baker first came on the scene when his first short story, Transition, sold to Amazon in a bidding war with Noah Hawley producing and Joe Epstein adapting. His second short story, The Appearance, sold to Makeready with The Picture Company producing. It looks like the author is just getting warmed up.

The names I’m hearing that are in the mix are Amazon Studios, Warner Bros, Universal, Netflix, Gigi Pritzker’s MWM Studios, Fox 2000, New Regency, and Gaumont, and talent is already circling. The auction is being handled by CAA. Life Sentence is about a futuristic program where the memories of criminals are erased, instead of sending them to prison. The story focuses on one such man.

The brisk competition could push the deal through the stratosphere for a short story. Stay tuned.