First deal out of SXSW today is Lionsgate‘s purchase of the North American rights for Eduardo Sanchez‘s Bigfoot feature Exists. Sanchez co-directed the 1999 microbudget title The Blair Witch Project for $60K, which then-distributor Artisan morphed into a worldwide phenom with close to $250 million at the box office. Below is Lionsgate’s release for the Jamie Nash-scripted Exists:
(Austin, TX & Santa Monica, CA, March 8, 2014) — Lionsgate (NYSE: LGF) has acquired North American distribution rights to EXISTS, a new horror film from THE BLAIR WITCH PROJECT director Eduardo Sánchez. The film played last night to a sold-out midnight screening at SXSW in Austin.
In Bigfoot’s bold return to the big screen, five friends on a camping weekend in the remote woods of East Texas struggle to survive against a legendary predator that is stronger, smarter, and more terrifying than anything they would have ever believed exists. (more…)