Tommy Lee Jones' Western "The Homesman," which premiered at Cannes on Sunday night, has sold its North American distribution rights to the new film venture Saban Films.

Media mogul and billionaire Haim Saban launched the distribution company on May 6, and "The Homesman" is its first acquisition. Several U.S. studios had expressed interest in "The Homesman" based on pre-Cannes screenings.

The drama, directed by and starring Jones, is adapted from the Glendon Swarthout novel, and tells the story of a claim jumper on a journey with a group of women. It co-stars Hilary Swank, Meryl Streep and Hailee Steinfeld.

"The Homesman" was produced by Peter Brant, who covered roughly 65 percent of the film's budget (which was less than $20 million), Brian Kennedy and Luc Besson.

International rights were sold to EuropaCorp.

"I am delighted that Saban Films has chosen 'The Homesman' to begin their venture into film release," said Jones in a statement. "Our company has full confidence in Saban Films and I sincerely hope we will serve them well."

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