11th Hour for Che: Wild Bunch closing in on Sale?

There is one of two likely scenarios that will play out for Steven Soderbergh’s Che films during the Toronto film festival. Either the fate of who has picked up the biopic pair of films has already been resolved and Wild Bunch is simply awaiting a showcase platform to announce the deal (to be followed by the sale of The Wrestler), or the highest bidder might be dragging the deal out, awaiting audience reactions to compliment those from the Cannes. The films will indeed to be split into two, but what kind of strategy will it involve?  

Wild Bunch’s Vincent Maraval told Screen Daily that a deal is imminent. The big question is: who among distributors will pay a likely 7 to 10 million price tag and who can get the ball rolling for a fall/holiday release in time for Oscar buzz, especially with Del Toro as a top tier candidate for a Best actor nom and win.

Though the big studios want nothing to do with anything over the two hour mark, and sequels in dramatic genres remain untested, I still wouldn’t exclude one of them from not showing significant interest. A quick roundup of the fall schedules shows that each of the major studios has at least one film to push during award season, but I’m thinking Columbia Pictures could delay the release of Jim Sheridan’s Brothers (remake of the Susanne Bier Dane film) and not have to count on Will Smith’s perf in Seven Pounds for year-end kudos. The more realistic situation that will occur is an indie label pick up.

Some of mentioned Magnolia Pictures as a likely suitor because of their relationship with Soderbergh — but the company have their own problems to deal with in What Just Happened? and Two Lovers, and have The Burning Plain to promote. I also thought that Weinsteins would have been prime suitors for the pic -seeing that Che would be released as two like a Kill Bill instead of a Grindhouse, but the just announced push into theaters of The Reader means the focus is already set at this company.

So who will buy the rights? Maybe Overture Films or perhaps a Summit International. Senator Entertainmentmight could make Che their first release and first Oscar hopeful.