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Hollywood’s Sundance Spending Spree This Year Faces a Box

“Frankly, it’s been a bad year,” Magnolia Pictures President Eamonn Bowles says

At least 4 of the buzziest movies at 2019’s Sundance Film Festival had been acquired for wherever between $13 million and $15 million. That’s a hefty pricetag for a crop of movies that at most hope to do modest enterprise on the indie field workplace.

Two of these, Amazon Studios’ “Late Night” and Warner Bros.’ “Blinded by the Light,” have hit already theaters, underperforming to expectations primarily based on their pageant value tags and the dialog that adopted them out of Park City.

Warner Bros.’s New Line banner launched its $15 million Bruce Springsteen-inspired Sundance acquisition “Blinded by the Light” from director Gurinder Chadha huge in theaters on August 16. The movie grossed simply $4.three million in its opening weekend and was deemed a disappointment.

Those less-than-stellar performances put upcoming Amazon’s two upcoming Sundance acquisitions — “Brittany Runs a Marathon,” which comes out this weekend, and subsequent month’s “The Report” — underneath a magnifying glass.

“Frankly, it’s been a bad year,” Magnolia Pictures President Eamonn Bowles…

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