Universal and Blumhouse Secure 'River' for Over $10M at TIFF

Key points

• Universal and Blumhouse Atomic Monster agreed to pay over $10 million for 'River', making it one of the largest sales out of the 2026 Toronto International Film Festival.
• The film, written and directed by Joshua Giuliano, stars Jane Levy, Jessica Rothe, Max Mattern, and Dane DiLiegro as estranged siblings stalked by a masked killer on a rural river.
• Independent Film Company and Shudder, the original backers, sold the distribution rights despite a strong box office market, citing the high acquisition price.
• The deal follows a competitive process where Sony bid $8 million, while Focus Features, Paramount, A24, and Netflix passed on the film.
• Giuliano is already in development with Blumhouse and Universal for his next project, 'Occupant', which is being produced by Divide/Conquer and Spooky Pictures.

Background

This acquisition follows a pattern of Blumhouse Atomic Monster and Universal backing rising horror talent, similar to their previous deal with Curry Barker for 'Obsession', which grossed over $513 million globally. The studios also recently acquired 'Backrooms' from Kane Parsons, which earned $394.1 million worldwide. Giuliano, a graduate of the American Film Institute’s directing program, has won awards for his short films at genre festivals including Fantasia and Fantastic Fest.

How outlets are covering it

Deadline and IndieWire both confirm the deal price is north of $10 million, with Deadline noting that IFC could not resist the offer despite a booming box office. Variety confirms the deal is in talks, while World of Reel highlights it as TIFF 2026’s first big deal. All sources agree on the key players and the film’s premise, but Deadline provides more detail on the bidding process, including Sony’s $8 million bid and the passing of other major studios. IndieWire emphasizes the financial windfall for the indie studio and the significance of the deal for Giuliano’s career trajectory.

Why it matters

The $10 million+ acquisition of 'River' underscores the continued strength of the horror genre in the film market and the strategic value of talent development for major studios. It highlights the growing influence of Blumhouse Atomic Monster and Universal in identifying and backing emerging directors, potentially leading to future blockbusters similar to 'Obsession' and 'Backrooms'. For indie studios like Independent Film Company, such deals provide a lucrative exit strategy, even in a strong box office environment.

What to watch

Universal and Blumhouse Atomic Monster are expected to finalize the acquisition and plan the release of 'River'. The studios will also move forward with production on 'Occupant', Giuliano’s next project. The success of 'River' will likely influence future acquisition strategies for both studios and indie distributors at upcoming film festivals.