Variety is reporting that weeks after Warner Bros. lost the rights to Conan the Barbarian, New Line has moved into prime position to make a movie based on Robert E. Howard's mythical conqueror.
After posting a bid of mid-six against seven figures for an 18-month option with one extension, the studio entered into negotiations after CAA staged an auction for rights holder Paradox Entertainment. The property drew the interest of several studios and monied producers including Hollywood Gang's Gianni Nunnari and Millennium Films.
Strong interest in Conan was attributed to the strong showing of the macho sandal saga "300."
Several potential buyers blinked at an initial asking price of $1 million for a year option, with another $1 million for each year's renewal. Studios are sensitive to ticking clock options, particularly when potential writers and actors strikes next year has them putting their resources into films that can be completed before next June.
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