Magnolia Pictures has acquired North American rights to Red, the revenge thriller directed by Trygve Allister Diesen and Lucky McKee which had its world premiere at Sundance this year.

The film stars Brian Cox, Robert Englund, Amanda Plummer and Tom Sizemore in the story of an elderly recluse (Cox) who tracks down the teenager who killed his dog and embarks on a series of increasingly violent acts of retribution.

New York-based Magnolia plans a late summer theatrical release for the film preceded by exclusive airings on HDNet's Ultra VOD programme. Magnolia and HDNet are both part of the Wagner/Cuban Companies, a group of media outfits co-owned by Todd Wagner and Mark Cuban.

The deal was negotiated by Magnolia senior vice president Tom Quinn and head of business affairs Jason Janego. Sarah Lash from Cinetic Media and Josh Braun from Submarine represented the film-makers in the deal.

Bleiberg Entertainment is handling international sales on the title.