The Coen brothers' Inside Llewyn Davis has been acquired for domestic distribution by CBS Films. The purchase price was about $4 million, according to sources.

The film, a folk music drama set in 1960 in New York's Greenwich Village, stars Oscar Isaac as a singer loosely based on the local hero Dave Van Ronk. Carey Mulligan plays his love interest, while the film co-stars Justin Timberlake, Garrett Hedlund and John Goodman.

Isaac, Timberlake and Grammy-winning folk-rock singer Marcus Mumford will all perform on the soundtrack, which is being produced by T Bone Burnett. Isaac, a trained musician, performs throughout the film, which focuses on the stormy career of a man who became known as "The Mayor of MacDougal Street," which also served as the title for his memoir.

"We did all the music live, no playback; it's like a concert movie," Isaac told THR last summer. "There's like six or seven songs in it."

Scott Rudin is producing the film alongside the Coen brothers; previous collaborations between the filmmakers and producer include No Country for Old Men and True Grit.