'Billion Dollar' movie acquired by Magnolia Pictures

Magnolia Pictures has acquired U.S. distribution rights to comedy “Tim and Eric’s Billion Dollar Movie,” the feature debut of Tim Heidecker and Eric Wareheim.

Magnolia’s sister company 2929 Prods. also announced Monday that it’s financing the pic, which Gary Sanchez Prods. and its Funny or Die Films banner are co-producing.

Heidecker and Wareheim are writing, directing and starring in “Billion Dollar Movie,” shooting this month in L.A. and Palm Springs.

Heidecker and Wareheim have been on five seasons of “Tim and Eric’s Awesome Show, Great Job!,” which have aired on Cartoon Network’s Adult Swim.

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