Paramount Locks Up $36 Million Midnight Library Rights After Cannes Bidding War
Updated
Updated · Deadline · May 29
Paramount Locks Up $36 Million Midnight Library Rights After Cannes Bidding War
11 articles · Updated · Deadline · May 29
Paramount finalized its deal with StudioCanal for North America and multiple foreign territories on The Midnight Library after some overseas rights were still unresolved when the auction news first emerged.
Mid-$30 million bids from Paramount, Focus Features and Sony made the Florence Pugh-led package the biggest sale out of Cannes, with Paramount ultimately closing the rights package.
StudioCanal and Blueprint are producing the $70 million fantasy drama, directed by Garth Davis, with cameras expected to roll early next year.
Matt Haig’s 2020 novel has sold more than 15 million copies, giving Paramount a high-profile adaptation in Lia Buman’s first acquisition since joining the studio in December 2025.
With its parent company cutting costs, is this $70M prestige film a brilliant awards play or a reckless gamble?
Can a studio embracing AI for efficiency authentically create a film celebrating the complexity of human choice?