The deal will close in the neighborhood of $7 million, the biggest one at this year’s fest.
The movie was so sought after that up to six studios were circling it after its premiere last night. On Sunday afternoon, when the final bidders were The Weinstein Co., Focus Features and Open Road. Fox Searchlight and A24 had also expressed interest in the film.
“Dope” received an enthusiastic response after it premiered on Saturday night at the Library Theatre. It’s the story of a bunch of high school outcasts in a rough Los Angeles neighborhood who are enamored of ’90s hip-hop. There are also plenty of allusions to modern phenomenons such as Bitcoin. Mashable described the picture as “Existing somewhere between Juice, Ferris Bueller’s Day Off and Spring Breakers.” WME is handling sales negotiations for the picture.