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Toronto Film Festival has finally given word that the Steven Sodenberg 4 hour epic on the greatest revolutionary who ever lived has been picked by Magnolia Pictures for North American distribution. The deal is still premature with none of the parties giving any reports of denial. This is sort of good news for the movie that is really expected to be one of the front runners in the Oscars.

NYp’s Lou Lemnick has also said that the two part film will be joined to make a single film. So this means Che or its two part presentation The Argentine and Guerilla will not likely hit theatres in 2008 beyond NYC and L.A. Until now many speculated that HBO would pick up the moderately divisive Benicio Del Toro starrer for an exclusive premiere on television. A theatrical release of the Cannes version is sure to come out if the producers get their head straight.