Students buy Stephen King story for $1

A group of young student filmmakers have grabbed a bargain, purchasing the movie rights to a Stephen King story for just over one dollar.

The famous horror writer made the deal with the students at Blaenau Gwent Film Academy in Wales.

The bargain purchase of less than one pound or $1.40, was for King’s short story “Stationary Bike,” part of his “Just After Sunset” series.

The story is about a man who starts riding a stationary bike after his doctor tells him to lose weight because of high cholesterol.

The man improves his fitness but begins having “strange thoughts” about being followed when he is riding.

The students, some as young as 14, found the story on King’s official website under a section titled “Dollar Babies” where stories not already under contract are made available exclusively to film students.

“It’s a great deal for our students who are fans of his writing and a great scoop for the academy,” tutor Kevin Phillips told The Boston Globe.

A condition of the contract is that the students now have two months to provide King with a draft of the script.

While they will not technically be able to make any profit from the film’s release, teachers anticipate it could be screened at film festivals and give the kids exposure and a confidence boost.

Once the final script is approved, a local cinema’s backstage area will be used as the film set which will primarily focus on the character’s basement.

Dollar Babies currently has 30 other titles available for purchase, however the list is subject to change and all purchases are at King’s discretion.