Perhaps in an effort to head off speculation regarding their potentially waning buying prowess, Miramax pounced on all available rights to Austrailian horror flick Wolf Creek, which will make its official world premiere at Sundance tomorrow. The film was at the center of a bidding war when Miramax's genre division, Dimension Films, put down $3.5 million for the film's North American rights, in what Variety is calling "a preemptive buy." If the Weinstein brothers were trying to scare off other buyers, it worked - they'll now distribute the film worldwide.

Variety also reports that Miramax has offically given up all rights to John Pierson's Reel Paradise. As we told you last week, Miramax financed the doc through their deal with Kevin Smith's production company, but has since decided not to distribute it. The film is now being repped by John Sloss of Cinetic Media. It had its first screening yesterday; no word yet in regards to offers.

The easy conclusion based on these two bits of news? With their future so uncertain, Miramax is looking to collect safe bets (low-budget horror films almost always make back their investment, and then some) - and can't afford to carry riskier projects.

categories Cinematical