‘Penelope’ casts distrib spell

Pic world preemed at Toronto last month

IFC and the Weinstein Company are joining forces again, this time to buy North American rights for Christina Ricci starrer “Penelope.”

Pic is a teen fable that concerns a woman with a facial deformity who must marry someone from her own class to break an evil spell. Movie, which world preemed at Toronto last month, was produced by Reese Witherspoon, Jennifer Simpson and Scott Steindorff.

IFC will handle theatrical while TWC will control homevid and television. Theatrical release is set for 2007.

Type A Films and Stone Village Pictures produced; Witherspoon and James McAvoy also star. Mark Palansky directed.

IFC and TWC have teamed up to buy pics before, including last year’s Oscar candidate “Transamerica.” IFC recently announced that it was making a foray into bigger-budget pics such as Ben Kingsley mob comedy “You Kill Me.”

IFC’s Jonathan Sehring and TWC’s Michelle Krumm negotiated the “Penelope” deal with ICM, who negotiated on behalf of Stone Village’s Andrew Molasky and Steindorff.

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