Paramount is closing in on acquiring the hot Cannes film market title 'The Midnight Library', a fantasy drama starring Florence Pugh and directed by Garth Davis. The studio is paying more than $30 million for the rights, making it likely the biggest deal out of the Cannes film market. The film is an adaptation of Matt Haig's novel about Nora Seed, who discovers a magical library between life and death. StudioCanal will distribute in several international territories, while Paramount handles the rest of the world. Pugh and Davis previously collaborated on the upcoming Netflix series 'East of Eden'.
paramount is about to lock down 'the midnight library', a fantasy drama with florence pugh and director garth davis, for over $30m — probably the biggest deal from cannes. it's based on matt haig's book about a magical library between life and death. studiocanal gets some territories, paramount gets the rest. pugh and davis worked together before on netflix's 'east of eden'.
The $30M+ deal underscores the intense competition for high-profile literary adaptations at the Cannes film market, even amid industry shifts toward streaming. Florence Pugh's star power, following her roles in Marvel and Oscar-nominated films, continues to drive major studio investments. The collaboration between Paramount and StudioCanal reflects the global distribution strategies that define modern blockbuster filmmaking.
a $30m+ cannes deal for a literary adaptation shows studios are still throwing big money at star-driven projects. pugh's pull is real after marvel and oscar buzz. the paramount-studiocanal split is a classic global rollout play.
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