The dealmaking continues at this year's Sundance Film Festival, where Fox Searchlight has just coughed up big bucks for the rights to Nat Faxon and Jim Rash’s directorial debut "The Way Way Back."

The dramedy boasts an enviable comedic cast including Steve Carell, Toni Collette, Allison Janney, Sam Rockwell and Maya Rudolph.

In one of the biggest Sundance deals in some time, the studio has paid around $10 million for the rights to distribute the film n North America and in several other major territories, according to Indiewire.

Fox Searchlight has found success with Carell's Sundance output before. They paid more than $10 million for "Little Miss Sunshine" in 2006, which eventually earned nearly $60 million in the U.S. and also won several Oscars. Collette also starred in "Sunshine" as well.

"Back" depicts a family vacation to a waterpark, where teen Duncan ("The Killing's" Liam Jones) strikes up an odd friendship with the park's manager, played by Rockwell. It marks the directorial debut of Oscar-winning writing duo of Faxon and Rash ("The Descendants").

Fox Searchlight is planning to release the film this summer.

Read Gregory Ellwood's review of the film