2ND UPDATE: I’m told the bidding has exceeded $ 10 million. Incredible.
1ST UPDATE: Bidding is at $ 8 million now, and climbing. That’s heady territory for a Toronto film. Last year’s big deal was $ 7 million for Can A Song Save Your Life. Stay tuned.
EARLIER EXCLUSIVE, 2:43 PM pst: The deal of the day is going to be the Chris Rock-directed Top Five. Sources said that Sony, Paramount, Fox Searchlight, Open Road, A24, Relativity and Lionsgate are all still in. There are different kinds of rights deals on the table, but I’m told that the bidding has exceeded $ 7 million and might well end up at 8-figures. UTA is repping the movie, and hoped to close before tonight’s premieres. But they aren’t going to call it while multiple suitors are still working on bids. Hopefully this should open the floodgates because there really are some good movies playing here. UTA’s got another hot one in While We’re Young, the Noah Baumbach-directed film that has many of those same bidders chasing, and I’ve heard that bids are in the $ 4 million range.
Top Five is Rock’s most commercial vehicle so far, and it has all kinds of tantalizing marketing possibilities. The cast includes Rosario Dawson, Smoove, Gabrielle Union, and comics Tracy Morgan, Cedric The Entertainer, Kevin Hart, Jerry Seinfeld, Adam Sandler, Whoopi Goldberg, Jay Pharoah. Those folks in a movie about a standup comic turned movie star is plenty to sell, but the title refers to top hip hop stars, and there is Jay-Z and Kanye West in producing capacities. Both movies, backed by Scott Rudin and Barry Diller through IAC, killed at last night’s premieres. Rock’s film resembled a rock concert, said several who attended.
