By Dana Harris | Indiewire April 22, 2011 at 8:09AM
Magnolia Pictures has acquired all world rights to "Limelight," a documentary about notorious nightclub owner Peter Gatien, from Billy Corben and Alfred Spellman's rakontur.
"Limelight" makes its world premiere tonight at the Tribeca Film Festival; Magnolia has already targeted an August theatrical release.
Directed by Corben and produced by Jen Gatien, Corben and Spellman, "Limelight" profiles Peter Gatien’s rise and fall in the world of NYC nightspot dominance as owner of Limelight, Tunnel, Palladium and Club USA.
This is Magnolia's third deal with rakontur, which also produced Magnolia releases "Cocaine Cowboys" and "Square Grouper," and Magnolia's second Tribeca acquisition, having picked up "Jiro Dreams of Sushi" earlier this week.
The deal was negotiated by Magnolia senior VP Tom Quinn with Spellman and Jen Gatien.