June 24, 2015 / 12:55 AM / 4 years ago

Amazon Studios in final talks for movie 'Elvis & Nixon': Variety

(Reuters) - Amazon Studios is in final talks for the movie “Elvis & Nixon,” which will debut in theaters only, and the theatrical rollout will be handled by Bleecker Street as part of the deal, according to Variety.

The deal for "Elvis & Nixon" has seen its price-tag rise over $3 million and has been in the works for over a month, the paper said, citing a source. (bit.ly/1QOPJn9)

Several buyers had expressed interest in the project, including Lionsgate and Bleecker Street, the paper said.

The film, starring Michael Shannon and Kevin Spacey, is about the infamous meeting between Elvis Presley and Richard Nixon in 1970, the paper said.

Amazon could not be immediately reached for comment.

Amazon Studios spent an estimated $2 billion on content in 2014 with about $200 million of that used to develop original shows, according to Wedbush Securities analysts.

Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Bernard Orr

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