The distributor’s latest buy from the recent Toronto International Film Festival means it will release Fernando Meirelles’ drama in theatres in 2012 followed by an Ultra VOD launch.

Magnolia svp of acquisitions Dori Begley and head of legal and business affairs Chris Matson brokered the deal with UTA Independent Film Group on behalf of the filmmakers.

Peter Morgan wrote the screenplay to 360, a set of interwoven vignettes about the lives of various troubled characters around the world.

Rachel Weisz, Anthony Hopkins, Jude Law, Ben Foster, Jamel Debbouze and Moritz Bleibtreu star.

Andrew Eaton and David Linde produced with Chris Hanley, Danny Krausz and Emanuel Michael.

“From the beginning, Eamonn [Bowles, Magnolia president] and his team expressed an immense amount of commitment, both creative and financial, to the film,” Eaton and Linde said in a joint statement. “We’re thrilled that this truly global film has found its American home at Magnolia.”

  • In an unrelated development, Open Road Films and Liddell Entertainment announced on Monday (24) they will release the horror film Silent House on Mar 9, 2012. Elizabeth Olsen, riding high on her performance in Martha Marcy May Marlene, stars and the film premiered at Sundance.