I believe this Hollywood Reporter story on the struggles faced by several American Cannes premieres to find a stateside distributor is the first notice that 2929 Entertainment has decided to give James Gray’s Two Lovers to Magnolia to distribute.

The film famously drew mixed reactions in Cannes; I gave it a thumbs up with some reservations, whilst the very idea of waiting in line for it drove Lisa Schwarzbaum to expletives. Lovers has a lower profile than What Just Happened?, another film which 2929 recently decided to let their sister company distribute when buyers didn’t materialize. Both bleak and stylized, the romantic melodrama might even be a tougher sell to audiences than a satire about old men who work in the film industry. We’ll see––Magnolia’s planning a limited release in early 2009.