Miramax buys U.S. rights to ‘Two Bits’

Miramax Films has acquired North American rights to the $ 21.8 million Al Pacino starrer “Two Bits,” marking one of the largest-budgeted acquisitions in the company’s history, the film’s producer said Wednesday.

“Two Bits,” which just completed seven weeks of shooting inPhiladelphia and three weeks at the Astoria Studios in New York, was acquired in negotiations between Miramax co-chairman Harvey Weinstein and Connexion Films co-chairman Willie Baer.

“Two Bits” producer Arthur Cohn said Miramax plans to platform the movie before taking it wide.

As reported (Daily Variety, June 8), foreign rights to “Two Bits” are being sold on a territory-by-territory basis by Capella Films. Miramax Films has yet to set a North American release date for the pic.

“Two Bits” is helmed by “Glengarry Glen Ross” director James Foley, written by “Psycho” scripter Joseph Stefano and also stars Pacino’s “Scarface” co-star Mary Elizabeth Mastrantonio.

Cohn said the film, set on one day in Philadelphia in 1933, is about a grandfather who on the last day of his life conveys to his grandson that the most important thing in life is to never stop dreaming. The pic is named “Two Bits” because the grandson wants the grandfather to give him the price of admission to a movie theater.

This is the first American production for Cohn, who has previously produced four Oscar-winning foreign-language films, including Jean-Jacques Annaud’s “Black and White in Color.” Cohn said his next project is an adaptation of Paul Gallico’s “The Foolish Immortals.”

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