Magnolia Pictures has acquired U.S. rights for Tim and Eric's Billion Dollar Movie. The film is a co-production between 2929 Productions, Gary Sanchez Productions and Funny or Die Films. It is the feature film debut (as writer-producer-directors) of Tim Heidecker and Eric Wareheim of the Tim and Eric Awesome Show, Great Job! which has had five seasons air on the Cartoon Network's Adult Swim channel (a clip is below).
Heidecker states: “We are very excited to be a part of this very expensive film." Adds Wareheim: "We are professional boys and we’ll use the money wisely."
2929 Productions CEO Todd Wagner says: “We were initially apprehensive of the unprecedented price tag of the film, but apparently we agreed to it after having a drink with Tim and Eric. Actually, it’s all a little bit fuzzy. Regardless, we now realize that it would be foolhardy not to participate in what is sure to be the grandest entertainment ever presented to mankind.” Gary Sanchez Production's co-founder and resident funny man Will Ferrell rationalizes: “You can’t put a price on creative excellence and we didn’t… maybe we should have, but we didn’t.” His co-founder Adam McKay adds: “There are six billion people in the world, so if we can get every sixth person to see this movie, we break even. If they tell a friend, we’ll do well, quite well.” The film, slated for a 2012 release, is currently in production and stars Zach Galifianakis, Will Ferrell, Jeff Goldblum, John C. Reilly, Will Forte and more.