Company gets rights to Watts, McGregor starrer

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

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

Juan Antonio Bayona will direct from a script by Sergio G. Sanchez. Producers are Belen Atienza, López Lavigne and Álvaro 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 distribution rights to Doug Liman’s “Fair Game,” in which Watts toplines 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,” “You Will Meet a Tall Dark Stranger” and Rodrigo Garcia’s “Mother & Child.” McGregor was most recently seen in Summit’s “The Ghost Writer.”

Sanchez and Bayona previously teamed on “The Orphanage,” which Bayona directed, Sanchez wrote and Atienza and Augustin exec produced.

David Garrett, president of Summit International, and Michael Schaefer, Summit’s senior VP of acquisitions and co-productions, will oversee the project.

Watts is represented by CAA and managed by Untitled Entertainment while McGregor is repped by UTA and United Agents in the UK. Apaches is also repped by UTA; Bayona is represented by WME

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