Universal Pictures may decline to release Alex Gibney’s documentary about Elon Musk, a move that would give filmmakers their rights back and require the studio to pay a kill fee. That outcome would shift distribution prospects for the four-hour film and reopen global sales that the studio locked up three years ago with a multimillion-dollar purchase.

The film drew robust applause at the Venice Film Festival, where attendees gave the director several minutes of standing ovation. Despite that reception, Universal has not dated the picture, has kept limited contact with the filmmakers about release plans, and appears to be reassessing distribution as the title becomes politically charged.

Two people with knowledge of internal discussions said a final decision has not been made and multiple outcomes remain possible, but they believed Universal would ultimately decide against an international rollout and return the rights. Universal declined to comment on its plans. The documentary is already set to premiere in U.S. theaters via Bleecker Street and to play the London Film Festival next month, events that typically coincide with U.K. and continental releases, which Universal has not scheduled.

The hesitation reflects wider industry concerns about political risk. The film includes allegations that Musk could have used data gathered during his DOGE period against Democrats ahead of U.S. elections, and features AI pioneer Geoffrey Hinton saying, "It's fairly clear to me that Trump is hell-bent on corrupting the midterm elections," and that access to detailed U.S. citizen data could be exploited with AI.

The trade-offs for Universal's parent company, Comcast, are concrete. The documentary’s subject has cultivated relationships with powerful officials, notably FCC chair Brendan Carr, who has defended Musk during federal probes, has been linked to Starlink regulatory approvals, and has posed with Musk in publicly noted photographs. Industry observers warn that antagonising such figures could create regulatory headaches for the Brian Roberts-led conglomerate, particularly given ongoing scrutiny of Comcast's practices.

If Universal opts to stand down, local distributors who were told the film was spoken for will likely re-enter the market; several territories have already shown strong interest. Returning rights would let the filmmakers resell the title and potentially profit again from the property. For now the studio’s next move will determine whether the documentary reaches the international audiences that festival buzz and buyer appetite suggest it can attract.