A24, the indie studio known for its aggressive bidding, has won the rights to turn the true crime podcast, The Girlfriends, into a television series. The podcast, which tells the story of a group of women seeking justice against a murderous ex, has gained popularity since its launch in the summer. Michael Showalter and his Semi-Formal Productions are attached to the project, with Showalter directing and Jordana Mollick executive producing.

A24’s success in winning the bidding war for The Girlfriends comes at a time when the broader intellectual property market is thriving. The historic dual Hollywood strikes have led to a shortage of content, making IP acquisitions highly competitive. A24, backed by private equity, has consistently emerged as one of the most aggressive buyers, recently securing the rights to Paris Hilton’s memoir for a TV adaptation.

If The Girlfriends makes it to air, it will join A24’s already impressive slate, which includes acclaimed shows like HBO’s Euphoria and Netflix’s Beef, as well as upcoming series such as The Sympathizer and The Curse. On the film side, A24 was behind this year’s Oscar winner Everything Everywhere All at Once.

Semi-Formal Productions, founded in 2018, aims to tell heartfelt stories that are both edgy and socially aware. The production company has previously worked on projects like Spoiler Alert and The Shrink Next Door, both based on popular podcasts. Showalter’s upcoming project, The Idea of You, starring Anne Hathaway, is based on a bestselling novel.

The Girlfriends podcast stands out from other true crime offerings by focusing on the experiences of the victims’ loved ones rather than the murderer. It tells the story of Gail, the wife of a convicted murderer, and the sisterhood of women who dated him and could have suffered the same fate. The podcast is hosted by Carole Fisher and is produced in partnership with No More, a nonprofit dedicated to ending domestic and sexual violence.

Overall, A24’s acquisition of The Girlfriends highlights its continued success in the competitive IP market. With Michael Showalter and Semi-Formal Productions attached, the television series adaptation has the potential to be another compelling addition to A24’s diverse portfolio.