Barry Levinson film stars Robert De Niro

2929 Entertainment will release its Tinseltown satire “What Just Happened?” through its own Magnolia Pictures.

Magnolia will open the pic on a limited platform Oct. 3 and will widen quickly to a few hundred runs within a week or two.

2929 owners Mark Cuban and Todd Wagner had hoped to land a domestic distributor at the Sundance Film Festival in January for the $20 million Hollywood comedy starring Robert De Niro. “What Just Happened?” scored favorable reviews, but financiers were not able to close a distrib deal.

Pic closed the Cannes fest out of competition.

Magnolia, which has been prepping a campaign for some months now, has hired marketing-exec-turned-consultant Russell Schwartz, the former marketing prexy of New Line Cinema, to supervise the film’s release campaign. If the pic had landed a “huge offer” out of Cannes, 2929 would have considered it, said Magnolia prexy Eamonn Bowles. “There were offers,, but we can make more money doing it ourselves. It’s a good risk.”

Barry Levinson directed the pic, which was adapted by producer Art Linson from his own Hollywood memoir. 2929 Prods. and Linson produced with De Niro and Jane Rosenthal’s Tribeca Prods.

Stars Catherine Keener, Stanley Tucci, Robin Wright Penn, John Turturro, Michael Wincott, Bruce Willis, Sean Penn and Kristen Stewart are expected to support the film’s promotion.

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