Magnet Releasing has acquired the rights to the horror/comedy ‘Milo’ from Jacob Vaughan. The film will be unleashed on North American audiences later this year. Continue on after the jump to check out the full press release with the details on this acquisition.

Immediately below you can check out the full press release regarding Magnet Releasing’s acquisition of ‘Milo’.

MAGNET RELEASING WIPES THE COMPETITION CLEAN AND PICKS UP JACOB VAUGHAN’S COMEDY/HORROR “MILO” STARRING KEN MARINO & GILLIAN JACOBS

“MILO” TO BE UNLEASHED ON NORTH AMERICAN AUDIENCES LATER THIS YEAR

NEW YORK/AUSTIN – March 18, 2013 – Magnet Releasing has acquired North American distribution rights to the acclaimed comedy/horror film MILO. Written and directed by Jacob Vaughan and starring Ken Marino & Gillian Jacobs, MILO premiered last weekend at the 2013 SXSW Film Festival. Blending the gory elements of a classic critter film (à la GREMLINS) with the lighthearted comedy of an unlikely friendship (reminiscent of TED), MILO was one of the most talked about and unique films of the festival.





The sale for MILO was completed late Friday night, making it the last deal to close during this year’s SXSW.

Duncan’s (Ken Marino) life is a real pain in the ass. Tormented by manipulative, crooked boss (Patrick Warburton), a nagging mother (Mary Kay Place), a deadbeat new age dad (Stephen Root), and a sweet, yet pressuring, wife (Gillian Jacobs), his mounting stress starts to trigger an insufferable gastrointestinal reaction. Out of ideas and at the end of his rope, Duncan seeks the help of a hypnotherapist (Peter Stormare), who helps him discover the root of his unusual stomach pain: a pintsized demon living in his intestine that, triggered by excessive anxiety, forces its way out and slaughters the people who haveangered him. Out of fear that his intestinal gremlin may target its wrath on the wrong person, Duncan attempts to befriend it, naming it Milo and indulging it to keep its seemingly insatiable appetite at bay.

MILO features notable puppetry by Frank Langley and Bob Mano.

MILO was produced by Adele Romanski with New Artists Alliance’s Gabriel Cowan and John Suits. Executive producers include Mark & Jay Duplass, John Norris, Kerry Johnson, Dallas Sonnier, Jack Heller and Floren Shieh Productions’ Clay Floren and Aimee Shieh.

“Just like Ken Marino, our stomachs were hurting watching MILO, happily because of laughter rather than an intestinal demon,” said Magnolia President Eamonn Bowles. “MILO is a rare entry in the horror-comedy genre that truly delivers.”

Jacob Vaughan said, “Magnet is the perfect home for MILO. The company is second-to-none in releasing quality genre movies and their passion for MILO is overwhelming. I’m confident they will do an incredible job positioning the film in the marketplace and getting it seen by audiences everywhere.”

The deal for MILO was negotiated by Magnolia/Magnet SVP of Acquisitions Dori Begley and Director of Acquisitions Peter van Steemburg, with ICM Partners on behalf of the filmmakers and producers.

About Magnet Releasing

Magnet is the genre arm of Magnolia Pictures, specializing in films from the vanguard of horror, action, comedy and Asian cinema, and the home of genre classics like Tomas Alfredson’s Let the Right One In, Takeshi Miike’s 13 Assassins, Christopher Smith’s Black Death, Ti West’s The House of the Devil, Andre Ovredal’s Trollhunter, Gareth Edward’s Monsters, Neil Marshall’s sword and sandals bloodbath Centurion, and Tony Jaa’s Ong Bak trilogy to name a few. Recent releases include the terrifying anthology V/H/S, Michael Dowse’s hockey comedy Goon, Tim & Eric’s Billion Dollar Movie, Panos Cosmatos’ psychedelic head trip Beyond the Black Rainbow, horror anthology The ABCs of Death, and Don Coscarelli’s John Dies at the End,. Upcoming releases include V/H/S/2, Xan Cassavettes’ stylish vampire film Kiss of the Damned, Adrián García Bogliano’s Here Comes the Devil, Viking epic Hammer of the Gods, and many more.