Distrib picks up Watts-McGregor starrer

Summit Entertainment has acquired most worldwide rights to “The Impossible,” starring Naomi Watts and Ewan McGregor, based on a true story set during the 2004 tsunami in Thailand.

Warner Bros. has distribution rights in Spain for the pic, directed by Juan Antonio Bayona and co-produced by Spanish production companies Apaches Entertainment and Telecino Cinema.

Screenplay is penned by Sergio G. Sanchez. Producers are Belen Atienza, Lopez Lavigne and Alvaro Augustin.

Production will begin in August in Alicante, Spain, and move to Thailand in October.

Summit, which announced the project Sunday, will release the film in the U.S. It will be selling international markets outside North America (excluding Spain) at Cannes.

Summit picked up another Watts project three days ago, buying North American rights to Doug Liman’s “Fair Game,” in which shetoplines as outed CIA agent Valerie Plame. Summit also picked up “Fair Game” rights for Italy, Benelux, Scandinavia, Japan and CIS.

Besides “Fair Game,” Watts’ is in the upcoming “Dream House.” McGregor was most recently seen in Summit’s “The Ghost Writer.”

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