Paramount Pictures acquired the North American and select international distribution rights to "The Midnight Library" for $36 million [1].
The deal represents a significant investment in literary adaptations and signals a push by Paramount, under the leadership of David Ellison, to secure high-profile talent for its upcoming slate.
The acquisition took place in May 2026 [1] during the Cannes Film Market in France [1]. Paramount secured the rights from Studio Canal after a competitive bidding war [3]. The film is an adaptation of the novel written by Matt Haig.
Florence Pugh stars in the lead role, and the project is directed by Garth Davis [1]. The $36 million [1] price tag marks one of the more substantial deals emerging from the Cannes market this year.
The rights acquired by Paramount include distribution across the U.S. and specific foreign territories [1]. While some reports have referenced the title "The Midnight Sun," primary sources confirm the adaptation is based on "The Midnight Library" [1, 2].
Paramount's strategy focuses on blending established intellectual property with A-list stars to ensure commercial viability in a crowded theatrical market. The studio's pursuit of the project highlights the ongoing value of prestige literary properties that have already demonstrated global popularity in print form.
“Paramount Pictures acquired the North American and select international distribution rights to "The Midnight Library" for $36 million.”
This acquisition underscores a broader industry trend where studios are paying premiums for 'pre-sold' intellectual property—stories with existing fanbases—to mitigate the financial risk of original screenplays. By pairing a bestselling novel with a high-draw actor like Florence Pugh, Paramount is positioning the film as a tentpole prestige release intended to attract both critical acclaim and broad international audiences.
