Warner Bros. has won the movie rights auction for Lin Manuel-Miranda’s “In the Heights,” multiple insiders with knowledge of the project told TheWrap.
The property has been the subject of a hot auction after it was extracted from The Weinstein Company ahead of its bankruptcy.
Last month, Lin Manuel-Miranda and “In the Heights” co-creator Quiara Alegría Hudes regained control of movie rights to the Tony Award-winning musical, in the aftermath of The Weinstein Company’s downfall, an insider with knowledge of the situation told TheWrap.
Deadline originally reported that the underlying rights to “In the Heights” reverted back to Miranda and Hudes before TWC filed for bankruptcy since the film had not yet gone into production.
After the accusations of Harvey Weinstein’s decades of sexual assault and harassment, Miranda and Hudes demanded the rights back.
Warners bought the rights for $50 million and beat out Fox, Paramount, Sony, Disney, Netflix and Apple. “Crazy Rich Asians” Filmmaker Jon M. Chu who is attached to direct, pitched the project around town with the musical’s book writer and screenwriter Quiara Alegría Hudes, along with Miranda joining by phone. Several studios backlots were dressed up to resemble scenes from the musical. The filmmakers will get first-dollar gross from Warner Bros.
Endeavor Content repped the project and brokered the deal.
Miranda is repped by WME, Liebman Entertainment and attorney Nancy Rose of Schreck Rose; Chu is repped by UTA and Principato-Young; Hudes is with WME and Objective Entertainment.
Deadline first reported the news about the acquisition.