IFC Films and The WeinsteinCompany (TWC) have jointly acquired North American rights to Mark Palansky'sfantasy drama Penelope, which receivedits world premiere at Toronto last month.
IFC Films will take the leadon the US theatrical distribution and TWC will handle home video andtelevision. Hyde Park is handling international sales.
Leslie Caveny wrote thescreenplay about a young girl's journey of self-discovery. Christina Ricci,James McAvoy, Catherine O'Hara, and Peter Dinklage star and Reese Witherspoonhas a cameo role.
Witherspoon's Type A Filmsdeveloped and produced, Stone Village Pictures produced and financed, andGrosvenor Park financed the project.
Witherspoon produced withJennifer Simpson and Scott Steindorff, while Dylan Russell, Michael Roban,Chris Curling, Robin Greenspun, Danny Greenspun, Andrew Molasky and ChristianArnold-Beutel served as executive producers.
"[This is] the perfectaddition to our 07 slate as we move forward with our plans to acquire andrelease films with commercial appeal for wide theatrical release," IFCEntertainment president Jonathan Sehring said.
"Penelope is an enchanting and charming story and is somethingthat audiences can watch and enjoy with their entire family," TWC co-chairmanHarvey Weinstein added. "We have had a strong track-record of partneringwith IFC and are thrilled to be releasing this with them.
ICM, which represents Ricci,O'Hara, and Palansky, negotiated the deal on behalf of Stone Village's Steindorff and Molasky.