Apple Buys Rights To Movie 'CODA' For $25 Million At Sundance, Setting Record
Apple Inc (NASDAQ: AAPL) has bought the worldwide rights to a movie for $25 million, according to Deadline.
What Happened: Apple made the deal at this year's virtual Sundance Film Festival, for the movie "CODA" about a teenager who's the only one in her family who isn't deaf.
Why It Matters: The movie has garnered acclaim at the festival and is expected to be a hit for streaming.
Apple beat out Amazon.com, Inc. (NASDAQ: AMZN) for the deal, according to Deadline.
The deal tops the record for a deal set at Sundance last year when Hulu and distributor Neon bought "Palm Springs" for $22.5 million.
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