Sundance is about two weeks away and the first major acquisition has already occurred. Fox Searchlight has picked up Noah Baumbach's "Mistress America" which is scheduled to premiere on Jan. 24 in Park City, Utah.  "America" is the second collaboration between Baumbach and Greta Gerwig after 2012's critically acclaimed dramedy "Frances Ha." Once again the duo co-wrote the screenplay, Baumbach directed and Gerwig stars.  She's joined ths time around by newcomer Lola Kirke and a relatively unknown cast.  

According to Searchlight, "America" focuses on Tracy (LKirke) a college freshman who is not having the exciting or cosmopolitan life she expected attending school in New York City. Things turn upside down when Brooke (Gerwig), her soon to be stepsister, takes her under her wing and she is "seduced by Brooke's alluringly mad schemes."

In a release from the mini-major, Searchlight Presidents Stephen Gilula and Nancy Utley remarked, "Noah's distinct cinematic voice and keen sense of humor are an ideal fit for what we do at Searchlight.  We are thrilled to be working with Noah and Greta and couldn't be more excited to be taking their new collaboration to audiences."

This is the second Baumbach feature to find a home over the past five months.  "While We're Young," which stars Ben Stiller, Naomi Watts, Amanda Seyfried and Adam Driver, was picked up by A24 following rave reviews at the 2014 Toronto Film Festival last September.  "Young" is currently scheduled for a March 27 release.

Searchlight currently has set a generic "2015" release date for "America," but considering "Young's" late March opening a mid-summer or early Fall opening seems most likely.  The studio also has the thriller "True Story," starring James Franco and Jonah Hill, debuting out of competition at Sundance this year.

Look for complete coverage of the 2015 Sundance Film Festival, including a review of "Mistress America," from Jan 22-30 on HitFix.

With over a decade of experience in the movie industry, Ellwood survived working for two major studios and has written for Variety, MSN and the LA Times. A co-founder of HitFix, Ellwood spends his time relaxing hitting 3’s on the basketball court and following his beloved Clippers.