So far, the big hit from Sundance has been The Birth of a Nation, the first film written and directed by Beyond The Lights actor Nate Parker. The film instantly earned great reviews, standing ovations and sparked a bidding war between distributors.

The Birth of a Nation is about the 1831 slave rebellion led by Nat Turner. Parker, who also starred in The Great Debaters and Red Tails, plays Turner. The cast also includes Gabrielle Union, Armie Hammer, Penelope Ann Miller and Aunjanue Ellis.

Since it was an instant hit with critics, there has already been Oscar buzz surrounding the film. That’s probably why Fox Searchlight put in a $16 million bid for the film, as TheWrap reported. Fox Searchlight previously had success with Steve McQueen’s 12 Years A Slave, which won the 2013 Best Picture Oscar and also centered on American slavery.

However, Fox Searchlight is not alone. Variety reported that The Weinstein Company and Netflix are also in contention. Sony is also in the running.

Whatever the result will be, The Birth of a Nation will likely earn the biggest sale from Sundance. And, just like previous Sundance hits Whiplash, Brooklyn and Boyhood before it, could stay in the discussion for awards all year.

UPDATE: Deadline is now reporting that Fox Searchlight is close to buying the film for a record $17.5 million.

UPDATE #2: TheWrap is now reporting that the Fox Searchlight deal has closed.