Universal Pictures and Blumhouse Atomic Monster are on the verge of closing a blockbuster deal for Joshua Giuliano's highly anticipated slasher film, 'River.' The acquisition, which sources indicate could exceed $10 million for distribution rights, comes hot on the heels of the film's world premiere at this year's Toronto International Film Festival (TIFF).

Initially backed by Independent Film Company and Shudder, the potential sale to Universal and Blumhouse Atomic Monster represents a substantial financial win for the indie studio and is expected to be one of the largest deals to emerge from TIFF. This move underscores the high regard Universal and its long-standing partner Blumhouse hold for Giuliano's talent.

The timing isn't entirely surprising. Just last week, Blumhouse Atomic Monster and Universal's indie arm, Focus Features, announced their collaboration on 'Occupant,' Giuliano's next feature. 'River' serves as Giuliano's directorial and screenwriting debut, establishing him as a rising star in the horror genre.

This pact provides a significant boost to Giuliano's career, drawing parallels to Curry Barker, another promising director whose film 'Obsession' was acquired by Blumhouse and Focus at TIFF for $15 million. 'Obsession' went on to gross an impressive $512.6 million globally, becoming a major hit. The studios are now also backing Barker's upcoming project, 'Anything but Ghosts.'

'River' plunges audiences into a terrifying scenario where three estranged siblings, attempting to scatter their father's ashes, find themselves adrift on a rural waterway and stalked by a masked serial killer. Although originally produced as the first film for Shudder, Independent Film Company's horror streaming service, critics have suggested it's best experienced on the big screen. IndieWire, in its TIFF review, praised the film, noting, "In his first feature, Giuliano delivers a classic, visceral horror experience."

Giuliano's presence on Blumhouse's radar isn't coincidental. Earlier this year, Blumhouse brought Sam Zimmerman over from Shudder to oversee its independent film slate. Giuliano's work on 'River' during his tenure at Shudder likely played a key role in the company recognizing his knack for delivering effective scares.

The film features a cast including Jane Levy, Jessica Rothe, Max Mattern, and Dane DiLiegro. Producers for 'River' include Nick Antosca, Alex Hedlund, and Steven Schneider, with executive producers such as Roy Lee, Ben Ross, Matt Brodlie, Jonathan Kier, Jeffrey Tinnell, Robert Tinnell, and Jason Blum.

Giuliano, an alumnus of the American Film Institute’s directing program, has a track record of award-winning short films from genre festivals like Fantasia, Fantastic Fest, and FrightFest. He is currently represented by CAA, Kaplan Perrone Entertainment, and Marios Rush. Spokespeople for Universal, Blumhouse, and Independent Film Company declined to comment on the pending deal.

Beyond 'River,' Blumhouse Atomic Monster, Focus, Divide/Conquer, and Spooky Pictures are set to produce 'Occupant.' Blum and James Wan, who lead Blumhouse Atomic Monster, have a proven track record of identifying and nurturing emerging talent, as seen with their support for 'Backrooms,' a YouTube-inspired horror film from 20-year-old prodigy Kane Parsons, which A24 distributed to $394.1 million worldwide. Universal appears to be banking on 'River' to replicate the success of films like 'Obsession' and 'Backrooms.'