Sundance hit V/H/S was picked up during the fest by Magnolia Pictures genre label, Magnet Releasing. And they’ve now set the US release dates for the film. Magnolia’s normal VOD-before-theaters model will be in play in V/H/S hits VOD on August 31st 2012 a few weeks before debuting in theaters on October 5th. In the film, “a group of misfits hired to burglarise a house to find a rare VHS tape, only to find more found footage than they wanted to see.”

The directors are Adam Wingard (You’re Next, A Horrible Way to Die, Pop Skull), Simon Barrett (You’re Next, Dead Birds, Read Sands), Ti West (The House of the Devil, The Roost, The Innkeepers), David Bruckner (The Signal), Joe Swanberg (Silver Bullets), Glenn McQuaid (I Sell the Dead), along with Radio Silence, the YouTube sensations formerly known as Chad, Matt and Rob (Matt Bettinelli-Olpin and Chad Villella).

The film will also screen at SXSW next week.