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tiff 2017

Chappaquiddick, starring starring Jason Clarke as Ted Kennedy, was reportedly purchased by independent firm Entertainment Studios for a reported $4-million (U.S.) at the 2017 Toronto International Film Festival.

Even though the Toronto International Film Festival is only in its third day, it has already witnessed some significant sales action. In contrast to last year's TIFF, where the deal making was relatively slow, there are already some high-profile film sales making waves in the marketplace.

Ahead of Sunday afternoon's world premiere of Chappaquiddick – director John Curran's take on U.S. Senator Ted Kennedy's infamous 1969 incident that resulted in the death of campaign worker Mary Jo Kopechne – the film's North American rights were snapped up by independent firm Entertainment Studios for a reported $4-million (U.S.), with a futher $16-million commitment for publicity and advertising. That high marketing spend could indicate the drama, starring Jason Clarke as Kennedy and Kate Mara as Kopechne, might be positioned for potential awards later in the fall season, though no release date has been announced.

In photos: Day 3 of TIFF

TIFF 2017: Festival Street is looking up

Related: The Globe's guide to TIFF 2017 movies

Entertainment Studios has enjoyed a busy weekend of deal making in Toronto, also paying $4-million for the Keanu Reeves sci-fi film Replicas (which is not playing TIFF itself, but rather was screened for sales agents attending the festival).

While last year's TIFF saw few high-profile deals – partly due to a lack of for-sale titles – the 2017 market slate appears more robust, with several hotly tipped festival titles looking for acquisition. These include the new Tonya Harding biopic I, Tonya, starring Margot Robbie (it was acquired by Miramax last year, but has since been put back up for sale); the drama The Children Act; the biopic Mary Shelley, starring Elle Fanning; the Nicolas Cage horror Mom and Dad; and Kodachrome, from Canadian director Mark Raso and starring Ed Harris.

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