"Black Dynamite" ignites deal with Sony Pictures

By Steven Zeitchik and Jay A. Fernandez

PARK CITY, Utah (Hollywood Reporter) - A heated overnight negotiation yielded a rare studio purchase at the Sundance Film Festival early Monday as Sony Pictures scooped up the blaxploitation movie "Black Dynamite" for an estimated $2 million.

The 1970s-set picture centers on a campy story of drugs, violence and a powerful, mysterious figure who goes by the name Black Dynamite. Scott Sanders directed and John Steingart produced and financed the project.

The studio is said to see the movie as a potential franchise along the lines of "Austin Powers" or "Friday," and plans to invest in a big marketing budget for the movie when it's released in the second half of the year.

Negotiations began after the film's raucous 11:30 p.m. premiere Sunday. The deal closed at 6 a.m., making it the first overnight sale of this year's festival.

Reuters/Hollywood Reporter