Sundance deals

Sony grabs rights to ‘Black Dynamite’”:

In the first all-night acquisition of Sundance, Sony Pictures Worldwide Acquisitions Group has grabbed Midnight title “Black Dynamite” for $2 million.”

“‘Finest’ sells to Senator at Sundance”:

Senator grabbed headlines on Saturday night by paying seven figures (reportedly no more than $5 million) along with homevid partner Sony for “Brooklyn’s Finest.” Senator prexy Mark Urman praised the Antoine Fuqua-directed cop drama starring Richard Gere, Don Cheadle and Ethan Hawke but also called it a “work in progress.”

Amidst the deals, there’s the economic backdrop:

The financial crisis and indie shakeout of 2008 have left a major imprint here, meaning the sponsorship noise and overall pulse of activity has diminished a bit.

Hotel bookings in Park City are off 12% this year vs. 2008, and stories are everywhere about the remarkable degree of leverage attendees have compared with other times. One name director said the owner of a condo off Main Street proactively called him to lower his nightly rate to close to $100 in exchange for his pledge not to cancel.

Two of the four presenting sponsors, Adobe and Volkswagen, dropped out before the fest, but Honda stepped into the void. Still, promos, such as a counter-intuitive concert by “American Idol” alum David Archuleta, in part to help plug a new brand of absinthe, are having less of an impact on Main Street than in past years.