Duo partner to acquire domestic rights to pic

Magnolia Pictures and Participant Media have partnered to acquire domestic rights to “Page One,” the docu that takes a behind-the-scenes look at a year in the New York Times.

Deal unfolded after all night negotiations and was reported to be in the six-figure range with a solid theatrical commitment included in the terms.

Samuel Goldwyn and IFC were also vying for the pic.

Deal was negotiated by Magnolia SVP Tom Quinn with Submarine’s Josh Braun and Diane Weyermann and Participant Media’s Jeff Ivers and Ricky Strauss. Victoria Cook provided legal services.

Participant and Magnolia have collaborated before on pics such as “Food, INC,” “Casino Jack” and “Countdown to Zero.”

Participant will utilize its extensive social action network to create a social action and advocacy campaign that will explore the challenges of balancing journalistic ethics and first amendment rights.

Magnoila will release the pic theatrically later this year.

Pic, helmed by docu director Andrew Rossi, was written and produced by Rossi and Kate Novak.

Josh Braun, Adam Schlesinger and Alan Oxman were also producers on the film while Daniel Stern and Dan Pine served as exec producers.

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