EXCLUSIVE: In the biggest deal to go down at this year’s Cannes virtual market, STX has beaten out a number of rival bids for worldwide rights to Gerard Butler action sequel Greenland: Migration.
STX is stumping up around $25M for domestic rights in a deal cut with Euro producer-seller Anton and CAA Media Finance. Multiple streamers were in the hunt for the movie. STX will also take all of international from Anton, in a pact which values foreign at around $50M.
Anton took the project to the virtual market where it garnered significant interest from indie buyers, but — as often happens on successful franchise fare — STX, which distributed the original movie, had a matching option and was happy to take the plunge. The movie will now run through the studio’s foreign output partners and is being sold to buyers in other markets.
The $65M+ movie will see Butler reprise his role as John Garrity. In a continuation of the story, the Garrity family, who survive a near-extinction level event when an interstellar comet hits the earth, must leave the safety of the Greenland bunker and embark on a perilous journey across the decimated frozen wasteland of Europe to find a new home. Co-star Morena Baccarin will also reprise her role as Allison Garrity.
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The core filmmaking team will return with director Ric Roman Waugh headlining from a script by Greenland writer Chris Sparling.
The project, which is slated to shoot in Q1 or Q2, 2022, is produced by Thunder Road Pictures’ Basil Iwanyk and Brendon Boyea, G-BASE’s Gerard Butler and Alan Siegel and Anton’s Sebastien Raybaud and John Zois.
Greenland debuted last summer to positive reviews and some robust box office numbers despite worldwide lockdowns and limited theatre capacity. It opened number one in 29 offshore markets including Germany, France, Italy, Spain and Russia, taking $53M worldwide off a circa $40M production budget. Following the U.S. and international rollout by STX, the film debuted digitally on SVOD followed by an exclusive run in the U.S. on HBO Max.
Butler and Waugh collaborated on action pic Angel Has Fallen, the follow-up to Butler’s successful Olympus Has Fallen and London Has Fallen franchise, which he also produced.
Greenland was one of the few standout big-canvas projects at the Cannes virtual market, where there was also plenty of interest for Vin Diesel actioner Muscle and Studiocanal’s Jake Gyllenhaal-Vanessa Kirby pic Suddenly. In eye catching deals so far, MGM beat out competition for Zoe Kravitz-directed Pussy Island with Channing Tatum, and Miramax landed world rights to Alexander Payne-directed The Holdovers.
The unofficial virtual market for pre-sales titles was in full flow last week but business will continue into coming weeks as the Cannes Film Festival and Marché gets underway.
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