It was quite the fight but Apple Studios has emerged victorious in what has become the largest film festival acquisition deal in history. The company has won the world rights to EMANCIPATION, a film package starring Will Smith and being helmed by Antoine Fuqua. The film depicts the harrowing escape of Peter, a runaway slave forced to outwit cold-blooded hunters and the unforgiving swamps of Louisiana on a tortuous journey North where he joined the Union Army. William N. Collage will be taking on scripting duties.
The bidding war for this project attracted seven potential buyers after it was brought to market last week as the signature film at the Virtual Cannes Film Festival. The bidding surged over $75 million and by that time, the field was narrowed down to Warner Bro. and Apple. The latter entity finally closed the deal last night and, per "Deadline", the commitment comes in at $105 million net. After backend gross buyouts are factored in, the deal is north of $120 million. The project was in such high demand that Collage is being paid in the mid-seven figures for his script. The film is expected to premiere in theaters, likely to qualify for award's attention and then around the world on Apple TV+.
So how did Apple land a project like this over a major movie studio like Warner Bros.? Apparently essential to the deal was the relationship that Apple Worldwide Video heads Zack Van Amburg and Jamie Erlicht have built with Will Smith during their time at Sony Pictures Television. The duo worked on the Jada Pinkett-Smith series Hawthorne, The Queen Latifah Show, and Hala, which Apple acquired after its Sundance premiere. All of these projects are executive produced by Will Smith and his wife Pinkett-Smith, so this pre-existing working relationship made this new Apple deal possible. The intention is to begin production in early 2021.
This feels like a big get for Apple which seems to be making its presence known in acquisitions after grabbing Tom Hanks' GREYHOUND after the film had to vacate its theatrical release date due to the COVID-19 pandemic and KILLERS OF THE FLOWER MOON, the $180 million+ adaptation of David Grann's book that stars Robert De Niro and Leonardo DiCaprio. Also on deck for Apple is SWAN SONG with Mahershala Ali and Sofia Coppola's ON THE ROCKS starring Bill Murray and Rashida Jones.
Do YOU think Apple was the right choice for EMANCIPATION?