Even before the movies began unspooling at the Sundance Film Festival last night, the first distribution deal had already been signed. According to Variety (subscription required), Paramount swooped in yesterday afternoon and purchased worldwide rights to 'Waiting for Superman,' a documentary about the crisis in the American educational system, filmed by 'An Inconvenient Truth' director Davis Guggenheim.

The film will hit theaters under the Paramount Vantage label, which also distributed 'Truth,' to the tune of $50 million in worldwide ticket sales.

More on day 1 of Sundance, including founder Robert Redford's speech, opening night films 'HOWL' (starring James Franco) and 'Restrepo,' and other goings-on in Park City, after the jump.