David Gordon Green pic stars Paul Rudd and Emile Hirsch

Magnolia Pictures has acquired North American rights to David Gordon Green’s offbeat comedy “Prince Avalanche,” which premiered on Sundance at Sundance. Company is eyeing a summer theatrical release.

Green wrote, directed and produced the pic, which stars Paul Rudd and Emile Hirsch. Producers also include Lisa Muskat, Derrick Tseng, James Belfer and Craig Zobel, the latter of whom directed last year’s Magnolia acquisition, “Compliance.”

Prince Avalanche” was financed by Lankn Partners, Dogfish Pictures and Dreambridge Films, whose Todd Labarowski exec produced. Dreambridge’s Brad and Melissa Coolidge served as co-exec producers. 

A loose remake of an Icelandic film titled “Either Way,” pic follows two men painting traffic lines on a desolate country highway that has been ravaged by wildfire. Against this setting, the men bicker and joke with each other, eventually developing an unlikely friendship.

Explosions in the Sky (“Friday Night Lights”) and David Wingo teamed on the pic’s moving score.

“All of us at Magnolia are huge fans of David Gordon Green, and it’s been a dream for a long time to work with him,” said Magnolia prexy Eamonn Bowles. “‘Prince Avalanche’ is incredibly smart, funny, warm and engaging film, with indelible, iconic performances from both Paul Rudd and Emile Hirsch.”

“Prince Avalanche was a strange joy to make and the reaction by audiences has been beautiful. The pleasure continues as we join with Magnolia to distribute the movie. I couldn’t be more proud,” added Green.

Deal was negotiated by Magnolia SVP of Acquisitions Dori Begley with John Sloss and Cinetic.

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