Wich2 wrote: Yes, there are outlier incidents in history: the METROPOLIS footage, Gillette's HOLMES. But - those were prints of completed films, that had seen release. This likely will be more of a "Capone's Vault" event.
P.S. - Unless... unless... this is a pre-planned "discovery." There is already material in hand, and this is all ballyhoo. Doubtful, though.
In the event they turn up empty handed, it's not the same as "Capone's Vault." Josh Grossberg will still be able to use his hunt for the lost reels as a device to tell the story of what really happened to Orson Welles and
The Magnificent Ambersons in 1942. TCM — which has publicly stated it's not overly optimistic about success — gets a good documentary out of the deal.
When Netflix bought the rights to
The Other Side of the Wind, they had no idea if all of the elements would be in Paris to complete it. I asked a Netflix exec if he had ever been worried. He said he felt there would at least a be a marketable documentary that could be made. (In the end, Netflix got a completed feature, a full-length documentary and a documentary short from the footage.)