By Francisco Salazar (staff@latinospost.com) | First Posted: Dec 03, 2013 12:00 AM EST

Tribeca Films has acquired the rights to distribute James Franco's new film "Palo Alto."

The New York-based distributor Tribeca Film picked up North American distribution rights and stated that it was targeting a theatrical release for spring 2014.

The distribtution company also announced that it will switch up its traditional distribution plan. Instead of a multi-platform strategy usually favored by the distributor (theatrical and digital/VOD releases simultaneously), "Palo Alto" will first be released in a theatrical run followed by digital and VOD release.

The new movie was directed by Gia Coppola, the granddaughter Francis Ford Coppola and niece of Sophia Coppola. The new film had its world premiere at the Telluride Film Festival and was followed by premieres at the Venice and Toronto Film Festivals.

The new movie, based on Franco's 2010 collection of short stories, follows a trio of storylines: One about a young woman caught between flirting with her soccer coach and a relationship with a teen stoner; another about a sexually promiscuous young woman; and a third about the stoner and his possibly dangerous best friend.

The film stars Emma Roberts, Franco, Jack Kilmer, Nat Wolff, Zoe Levin and Val Kilmer. The distribution deal was negotiated by Tribeca Film's Nick Savva with Barry Hirsch and George Hayum of Hirsch Wallerstein Hayum Matlof and Fishman who represented the filmmakers.

Tribeca Film recently released Belgium's Oscar submission "The Broken Circle Breakdown," "Some Velvet Morning," "What Richard Did," "A Single Shot," and "The Truth About Emanuel." The distributor is will next release "Six Acts" and "Expecting."

The release date for "Palo Alto" will be announced later this year.

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