Fernando Meirelles film set for 2012 release

Magnolia Pictures has acquired U.S. rights to Fernando Meirelles’ “360” six weeks after its premiere at the Toronto Film Festival.

Magnolia announced the deal Monday and said it plans a theatrical release in 2012 in all major U.S. markets, bolstered by a prominent film festival presence leading up to release. “360” will also be distributed through Magnolia’s Ultra VOD program.

Pic, penned by Peter Morgan, is a circular study of modern couplings that expands the inquiry of Arthur Schnitzler’s 1897 play “La Ronde” to a global scale. Rachel Weisz, Anthony Hopkins, Jude Law, Ben Foster, Jamel Debbouze and Moritz Bleibtreu star, and “360” weaves together the stories of an array of people from disparate social backgrounds through their intersecting relationships.

The film was produced by Andrew Eaton and David Linde with Chris Hanley, Danny Krausz and Emanuel Michael. The European premiere took place earlier this month at the London Film Festival, where it was the opening-night gala film.

Pic was shot on location in Vienna, Paris, London, Bratislava and Rio de Janeiro. Law plays a travelling businessman who is contemplating a liaison with a prostitute while Weisz is a married woman who is breaking off a relationship with a younger man. Hopkins is a man searching for his missing daughter, and Foster plays a sex offender recently released from prison.

The deal was negotiated for Magnolia by senior VP of acquisitions Dori Begley and head of legal and business affairs Chris Matson with UTA Independent Film Group for the filmmakers.

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