Fox Searchlight has acquired the Terrence Malick-directed The Tree of Life from Bill Pohlad’s River Road Entertainment. Though the film might be an awards season magnet with Brad Pitt and Sean Penn starring, the distributor is flush with those kinds of films already, and will release in 2011. At the Toronto International Film Festival, Searchlight will fete 127 Hours, Black Swan, Conviction and Never Let Me Go.
UPDATE 12:13 PM: Apparition just made official its restructuring plans after Deadline broke the story.
EXCLUSIVE: Bill Pohlad has begun the first phase of restructuring Apparition, the indie distribution company that was thrown into disarray when co-founder Bob Berney exited in bombshell fashion just before the Cannes Film Festival. The first step is painful: 60%, or approximately 15 staffers were informed moments ago they are being let go and receiving severance packages. Last day for those staffers is this Friday.