Paramount Vantage emerged top of the pack after the film's world premiere last Saturday also attracted attention from Sony Pictures Classics and Fox Searchlight, among others. Vantage president Nick Meyer said American Teen was 'the most entertaining and uplifting film we saw at Sundance.'
Burstein's film charts a year in the life of four Idaho teenagers in their senior year of high school. The director filmed her subjects every day for 10 months to capture the trials and tribulations of adolescent life.
Burstein, who won a Special Jury Prize here in 1999 for On The Ropes, produced alongside Jordan Roberts, Eli Gonda and Chris Huddleson.
Vantage's executive vice president of business affairs and operations Jeffrey Freedman negotiated the deal with Cinetic and CAA on behalf of the film-makers.
Executive vice president of production and acquisitions Amy Israel and director of acquisitions and co-productions Ben Cotner will oversee the project for Paramount Vantage.
American Teen is an A&E Indiefilms Presentation of a Firehouse Films and Quasiworld Entertainment production in association with 57th And Irving.
At time of writing deals were believed to be close on The Wackness, Donkey Punch, Sunshine Cleaning, Ballast and Frozen River. Also attracting heat were The Broken, A Complete History Of My Sexual Failures and Bigger, Stronger, Faster.