In a rare studio purchase at the Sundance Film Festival, an overnight heated negotiation, saw Sony Pictures picking up 'Black Dynamite' for an estimated $2-million.

Set in the 1970s, the film centres around drugs, violence and a powerful, mysterious figure, who goes by the name Black Dynamite. Sony feels the film has potential for a franchise along the lines of films like 'Austin Powers' and 'Friday'.

Several other films seemed poised for acquisition deals, however, there is no final word as of Monday evening. Among the shortlisted acquisition titles are: Ashton Kutcher's sex romp 'Spread', a Nick Hornby adaptation 'An Education', an intense urban drama, including 'Push' based on the best selling novel by Sapphire, quirky comedy 'Humpday' and drama 'The Greatest', starring Pierce Brosnan-Susan Sarandon.

The screening of I Love You Phillip Morris' had many festival regulars thinking there would be a buying spree of films, however, buyers showed only moderate interest, asking tough questions on how to market and distribute titles without obvious hooks.