They bought the movie outright – no one else saw it.
Madonna showed it "TWC" first, probably because Harvey Weinstein released her "Truth or Dare" documentary twenty years ago. And the people who saw it, including Harvey and Bob, loved it.
This is also what was said:
"It’s smart and thoughtful, and incredibly stylish. A performance by Andrea Riseborough that’s Oscar worthy. I don’t know how the f*** she [Madonna] did it. It’s an art picture, there’s no question about it. It’s a picture for women. Bob and Harvey really loved it. This is a lot like Tom Ford’s directing of "A Single Man". We were impressed with her. Everyone’s been talking about her in the house for two weeks. She’s gotten it all up there on the screen. It’s hard to tell a good story. She managed to do it."
Sources say that they know there will be skepticism, but that once people see "W.E." they’ll get it.
The sales price, by the way, is said to be less than $5 million. More likely in the $4 million range.
Source:411
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