The New York-based distributor announced the US deal on Tuesday  ahead of screening at SXSW.
Muscle Shoals premiered at Sundance and is a documentary about the renowned recording studio in Alabama. Mick Jagger, Bono, Alicia Keys, Percy Sledge, Gregg Allman and Clarence Carter are among the talking heads.
Greg ‘Freddy’ Camalier directed and produced with Stephen Badger.
Magnolia svp of acquisitions Dori Begley negotiated the deal for Muscle Shoals with Josh Braun, Dan Braun and David Koh of Submarine.
Submarine has additionally licensed US TV rights to Independent Lens for broadcast on PBS following a deal with Independent Lens senior series producer Lois Vossen and all Canadian rights to Films We Like in a deal with that company’s president Ron Mann.