Magnet Takes "Terrace" Ahead of Slamdance

A scene from Ben Wheatley's "Down Terrace."

The Wagner/Cuban Companies' Magnet Releasing, the genre arm of Magnolia Pictures, announced that it has acquired world rights to "Down Terrace," a genre bending portrait of a crime family slotted to play in Slamdance this month after being warmly received at Raindance, where it won the award for Best UK Feature, and Austin's Fantastic Fest, where it won Best Picture and Best Screenplay.

The feature film debut of director Ben Wheatley, "Terrace" was produced by Andrew Starke of Boum Productions, and executive produced by Baby Cow Films, Steve Coogan and Henry Normal's production company ("24 Hour Party People," "The Mighty Boosh"). Magnolia International will be representing the film internationally at the upcoming Slamdance, Rotterdam and Berlin Film Festivals.

"It's been a long time since I've seen a film as smart, clever and totally original as 'Down Terrace,'" said Magnolia Senior Vice President Tom Quinn in a statement. "It's 'The Sopranos' meets 'Once' - there's really nothing else like it."

The film will play the festival circuit this spring, with an anticipated theatrical release in the summer. The deal was negotiated by Magnolia's Senior Vice President Tom Quinn with producer Andrew Starke.