Paramount Pictures has won a bidding war for the film adaptation of Matt Haig's novel 'The Midnight Library', paying $36 million for North American and select foreign rights. The film, directed by Garth Davis and starring Florence Pugh, was one of the hottest titles at the Cannes film market. Paramount beat out Focus Features and Sony Pictures. StudioCanal will distribute in several international territories. Pugh will play Nora Seed, a woman who discovers a magical library between life and death.
paramount just dropped $36m to snag the movie rights to matt haig's 'the midnight library' starring florence pugh. it was a whole bidding war at cannes with focus and sony also circling. garth davis is directing (he did lion and the upcoming east of eden series). pugh plays a woman who finds a library between life and death.
This deal signals the continued strength of the film market at Cannes, with major studios willing to spend big on literary adaptations with A-list talent. The $36 million price tag is among the largest for a project at this year's market, reflecting confidence in Pugh's star power following her roles in Marvel and Oscar-nominated films. It also highlights Paramount's aggressive strategy under new leadership to secure high-profile projects.
a $36m cannes deal for a book adaptation with a hot director and florence pugh? that's a statement. shows studios are still betting big on literary IP and star power, especially after pugh's run of hits. paramount is playing to win under david ellison.
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