Original sentence: "Bandslam" was already bought by a studio back in 2004, but in late January 2008, Walden Media and Summit Entertainment will co-finance Bandslam, a story co-wrote by Todd Graff and Josh Cagan and will be directed by Graff
Edited sentence: "Bandslam" was already bought by a studio back in 2004, but in late January 2008, Walden Media and Summit Entertainment have announced that they will co-finance Bandslam, a story co-wrote by Todd Graff and Josh Cagan and will be directed by Graff