[Update: Netflix has released a press release confirming the acquisition, revealing that the film will be released simultaneously in select theaters in the U.S. and worldwide on Netflix, in all territories in which the streaming service is available. Read the full press release below our original story.]

Netflix made waves when it moved into the original series realm with House of Cards and Orange Is the New Black, and now as the streaming service looks to expand its purview into feature films, its biggest move yet is on the horizon. Deadline reports that Netflix is close to a deal to acquire the adaptation of the Uzodinma Iweala novel Beasts of No Nation, which was directed by True Detective helmer Cary Fukunaga and stars Idris Elba as a Joseph Kony-type warlord. The story revolves around the experiences of a child soldier fighting in a civil war in Africa, and though he fielded a slew of offers after True Detective, Fukunaga stuck to passion project Beasts as his next undertaking.

Apparently Netflix’s deal is in the vicinity of $12 million for worldwide rights to the film, which wrapped production last year. The “big play” is reportedly for Netflix’s streaming service, but a theatrical component will be involved as well. I’m incredibly interested to see what becomes of this. Will the film be released day-and-date on Netflix and in theaters, or will there be a shortened theatrical window before it’s available on the streaming service? I’d be lying if I said I didn’t prefer to watch movies in actual theaters, but I do find the burgeoning VOD industry fascinating.

I imagine we’ll have more info soon, but this is kind of a big development. Netflix has already signed a multi-picture deal with Adam Sander to produce features, the first of which is already in production, but acquiring a highly anticipated independent film like this is a different beast entirely, and signals that the streaming service isn’t just interested in entertainment—they’re in the market for prestige.

After his brilliant work on True Detective and having finished post-production on Beasts, Fukunaga is set to begin production later this year on the first film in what is planned as a two-part adaptation of Stephen King’s iconic novel It.