Deadline reports that Magnolia Pictures has bought the world-wide rights for Bobcat Goldthwait‘s latest dark satire, God Bless America.

The film will be released through Magnolia’s genre label, Magnet, with a VOD premiere in 2012 followed by a theatrical release.

Premiering at this year’s TIFF Midnight Madness section, the film follows a 45-year-old man (Joel Murray) and a teenage girl (Tara Lynne Barr) as they go on a Bonnie and Clyde-esque rampage after the country unites in the ridicule of a simpleminded contestant on a television singing competition.

“I feel like the American Empire is starting to crumble, and we’re using Reality TV as the new Roman coliseum,” Goldthwait told us via e-mailed as part of our 5 Questions For… interviews. “This movie is about a man who doesn’t want to be a part of that anymore.”

Magnolia released Godthwait’s previous film, World’s Greatest Dad, in 2009.