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Sundance 2013: Fox Searchlight Goes Big for ‘The Way, Way Back’ for Close to $10 Million

Sundance 2013: Fox Searchlight Goes Big for 'The Way, Way Back' for Close to $10 Million

Fox Searchlight has taken to Nat Faxon and Jim Rash’s directorial debut “The Way, Way Back,” which had its world premiere Monday at the Eccles Theatre. It may stand to be the biggest buy in recent memory, as one source puts the price just short of $10 million for North American rights and most other major territories.

Searchlight plans a summer theatrical release.

Starring Steve Carell, Toni Collette, Allison Janney, Sam Rockwell and Maya Rudolph, the comedy follows a 14-year-old whose summer vacation takes an odd turn when he begins to mix with the staff at a rundown water park. This is the writing-directing debut of Faxon and Rash, who won an Oscar for co-writing “The Descendants,” which Searchlight released in 2011.

Kevin J. Walsh of The Walsh Company and Tom Rice of Sycamore Pictures produced. OddLot Entertainment and Sycamore Pictures co-financed the project.

“Nat and Jim have crafted an uproarious coming of age story and it is great to be reunited with them,” said Fox Searchlight Pictures presidents Nancy Utley and Stephen Gilula. “The amazingly pitch perfect cast never misses a beat and was well deserving of the standing ovation the film received yesterday.” 

Searchlight paid north of $10 million for “Little Miss Sunshine” at the Sundance Film Festival in 2006 and rode the similarly quirky comedy to nearly $60 million at the domestic box office, plus two Oscars and a best picture nomination. (That also co-starred Carell.)

CAA and WME repped the sale for the filmmakers.

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