reported by Sam Kirkman, CyberScreenwriter.com

Netflix has acquired all North American rights to "Sherrybaby," a buzz-maker at this year's Sundance Film Festival. The film, written and directed by Laurie Collyer, features a critically-acclaimed lead performance by Maggie Gyllenhaal.

The "Sherrybaby" deal includes theatrical, DVD, television and download rights and will be released through Netflix' newly created Red Envelope Entertainment group. Netflix has inked an agreement with IFC Films to handle the U.S. theatrical distribution, currently scheduled for an August 25, 2006 release date. The film will be available at www.netflix.com on November 7, 2006.

"'Sherrybaby' is a powerful story of redemption that we believe will have great consumer appeal," said Ted Sarandos, chief content officer of Netflix. "Maggie Gyllenhaal is one of the most significant actors of her generation. Her work is among the most popular with Indie film lovers and this performance will allow a new and wide audience to take notice of her."

Ms. Gyllenhaal has a number of films in the pipeline for 2006, including "World Trade Center" from director Oliver Stone; "Stranger than Fiction" directed by Marc Forster; and "Trust the Man" by Bart Fruendlich and featuring Julianne Moore.