The other night, someone with knowledge of these things approached me at a party and said, “Have you heard that Magnolia’s bought Che? I’ve never heard a more premature rumor in my life.” Any suspicion in my mind that this party chat was mere misdirection has just been proved unfounded with IFC’s announcement that they’ve bought Steven Soderbergh’s epic for U.S. release.

In not specifying that IFC will release the two halves of the film separately, the press release implies that Che’s “two stand-alone parts” will be shown in theaters back-to-back. But this is the only specific language regarding their distribution plan:

Che will be released for one week awards qualifying run in New York and Los Angeles in December. The company will then re-open the film in January through IFC In Theaters, its day-and-date distribution platform which makes independent films available to a national audience in theaters and on-demand, simultaneously. It will also be included in the company’s exclusive video rental deal with Blockbuster Video.

I’ve pasted the full release after the jump. More when we get it.

UPDATE: Anne Thompson clarifies the “one movie, or two?” issue: “IFC will open the full four-hour movie with an intermission for one-week Oscar-qualifying runs in New York and Los Angeles before opening Che Part One (The Argentine) in 15 to 25 key markets in January; Part Two (The Guerilla) will follow the Oscar nominations announcement.”

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