Sundance: A Major Buy!

The pocketbooks have finally been loosened in what is the first major acquisition at the Sundance Film Festival.

Fox Searchlight moved quickly to pick up the domestic distribution rights to the comedy “Super Troopers” for roughly $3 million. The studio is looking at a summer release of the film that cost around $2 million to make and was directed by Jay Chandrasekhar, according to The Hollywood Reporter.

Searchlight outbid Miramax Films, which was rumored to be interested in the comedy early on. “Troopers” is the story of a wacky team of Vermont State Troopers stationed near the Canadian border and their comedic attempt to clean up their acts to keep the station from being closed down.

The acquisition is the first in what has been a very slow purchasing climate at the annual festival in Park City, Utah. Studio execs have reportedly not been very impressed with the films being screened. After the first four days, not a single film was picked up.