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Red Envelope Entertainment, the original content division of online DVD rental outfit Netflix, has acquired U.S. distribution rights to Dan Cox's documentary "Running With Arnold," a questioning docupic portrait of Arnold Schwarzenegger.

Narrated by Alec Baldwin, "Arnold" chronicles Schwarzenegger's rise to celebrity and political power. Doc will have a multi-city theatrical release Stateside early next year, handled by Lantern Lane Ent.

Deal was negotiated last week by David Ripert and Bob Aaronson, representing Red Envelope, Lantern Lane's David Garber and attorney Greg Bernstein and producer Mike Gabrawy on behalf of the filmmakers.

International rights for "Running With Arnold" are being handled by Madrid-based consortium Latido Films, which is selling the documentary at the American Film Market.

After opening SXSW Film Festival, in October "Arnold" won a Golden Eye award in the New Documentary Film category at the third Zurich Film Festival.

Written and directed by former Variety journalist Dan Cox, "Arnold" was produced by Gabrawy and attorney Jennifer Hughes and exec produced by Endless World's Gregg Michael Abrams and Jeffrey Orenstein of Purple Princess Prods.