It’s official: an all-night auction at Cannes has made The Weinstein Company the owner of U.S. distribution rights to The Iron Lady. The deal for the Pathe picture was worth near $7 millon, chased also by Summit, Relativity Media, and Fox Searchlight. Despite two other bids of $6 million on the table for The Iron Lady, Harvey Weinstein closed it with Ron Burkle and David Glasser after Pathe’s clips of five minute footage aroused numerous bidders.
With a screenplay by Abi Morgan, The Iron Lady is set with Meryl Streep to star as Margaret Thatcher, while Harry Lloyd, Richard E. Grant, and Jim Broadbent also join the cast. Chosen to direct the picture, Phyllida Lloyd is reunited with her lead actress from the 2008 film Mamma Mia!. The possible release date for The Iron Lady is still unknown.
