By Kevin Jagernauth | The Playlist March 14, 2011 at 8:57AM
If we didn't know any better, it's looks like Magnolia is making moves to become some serious players in the indie film biz. They've already snatched up the rights to Lars Von Trier's forthcoming "Melancholia" and now they've added another buzzworthy film to their slate.
ComingSoon reveals that Magnolia has picked up "Tim And Eric’s Billion Dollar Movie" featuring a starry roster of talent including Zach Galifianakis, Will Ferrell, John C. Reilly, Robert Loggia, Jeff Goldblum, Will Forte and William Atherton. The film marks Tim Heidecker and Eric Wareheim’s feature debut and Wareheim previously described the meta plot as it follows their onscreen characters who “literally get a billion dollars to make a movie, and we make it, and things go awry, and Tim and I just decide to get out of Hollywood and become businessmen in an abandoned mall.” The film is currently in front of cameras and there is no release date set just yet.
Meanwhile, The Weinstein Company has been flexing their muscle down in Austin as Deadline reports that the company has snagged the distribution and remake rights to "Undefeated" and it's pretty easy to see why.
Based on a true story, the documentary follows the Manassas Tigers football team, a severely underfunded and underprivileged football team-- who were even hired out as a practice team for more successful schools -- as they reverse their fortunes thanks to coach Bill Courtney. The screening at SXSW apparently went over quite well, with buyers lining up after the screening with the Weinsteins emerging victorious from the scrum.
No word yet on a release date for the film, but we image it'll be timed for the high school and/or NFL football season.