A Cannes of worms for indie films

Soderbergh wants to release the two-part, four-hour-plus film as one movie in limited December openings. He'd then like to release the first part in January and the second in February. Soderbergh has cut five to seven minutes from each half, but a potential distributor who suggested one three-hour cut was ruled out immediately.

Todd Wagner and Internet entrepreneur Mark Cuban's 2929 was looking for at least $3.5 million for North American rights to "Lovers," the story of an emotionally disturbed man forced to choose between two women. But when four offers came in the $1 million-$2 million range for the Joaquin Phoenix-Gwyneth Paltrow starrer, 2929 opted to hand the film over to Magnolia.

It's the same strategy 2929 took when "The Life Before Her Eyes" failed to attract offers in Toronto and "What Just Happened?" didn't spark a bidding frenzy in Sundance. Given that Cuban and Wagner also own Landmark Theatres, DVD, pay TV and VOD outlets, 2929's Marc Butan said, "Even at our most pessimistic model, we are doing OK."

"Lovers" will bow early next year with New York and Los Angeles openings.

Sony Classics plans to debut "Synecdoche," Kaufman's directorial debut starring Philip Seymour Hoffman as a writer staging a surreally ambitious play, in the fall.

The film scored a five-minute standing ovation and some glowing reviews at Cannes. One indie executive called it "a flawed masterpiece," but other execs, unsettled by the recent closure of indie labels Picturehouse and Warner Independent, saw only its high commercial risk factor.

After Cannes, Kaufman made only minor technical tweaks. Several indies, convinced that the film would need careful word-of-mouth, made modest bids. Sony Classics' complicated, winning deal offered the filmmakers a lower upfront payment in return for significant long-term performance bonuses and a wide release commitment.

"We met with the filmmakers two years ago and have pursued it ever since, but the only stumbling block was that the budget led to a bigger financial upfront than we were willing to do," Sony Classics co-head Michael Barker said.

While the major studios, specialty divisions and indie distributors mostly left Cannes empty-handed, Sony Classics and IFC Films benefited from the market downtown. Both acquired the largest number of official selection and market titles in their history, partly because the lack of frenzied competition led to dropping prices.