Magnolia Pictures has picked up U.S. rights to Sarah Polley's Take This Waltz, which premiered at the Toronto film festival last month.

Magnolia announced Monday that it plans a robust theatrical release early in the summer of 2012. It also plans a significant film festival presence and a release through Magnolia's Ultra VoD program.

The movie stars Michelle Williams, Seth Rogen, Luke Kirby and Sarah Silverman and is about a woman who struggles to choose between her husband, whom she loves, and the handsome artist who lives across the street.

Susan Cavan produced with Polley.