Studios snap up Sundance favorites, boosting indie film market

PARK CITY, Utah, Jan 28: Movie studios have been searching for the next big thing at the Sundance Film Festival after the critical and commercial success of indie films such as “Beasts of the Southern Wild” with a slew of business deals being made during the festival. The biggest purchase came midway through the 10-day event when Fox Searchlight paid about $10 million for quirky coming-of-age comedy “The Way, Way Back”, starring Steve Carell and Toni Collette, according to sources close to the deal. (agencies)