BREAKING: In a bidding war that played out over the holiday weekend Paramount Pictures won the battle for Sascha Penn’s spec feature film Bounty, with Will Smith attached to star. Overbrook is producing along with Madhouse Entertainment. Alana Mayo is the executive at Paramount who brought the script to the attention of Marc Evans. The studio moved aggressively to close the deal. Smith is about to open in Focus.

Overbrook Partner James Lassiter will produce the project. Caleeb Pinkett will oversee the project for Overbrook. Madhouse Entertainment’s Adam Kolbrenner will produce. Madhouse’s Robyn Meisinger will Executive Produce.

The story centers on a convicted murderer who busts out of prison to clear his name, however the widow of one of his victims goes on national television and offers a $10 million reward to anyone who delivers the felon. Dead or alive.

Penn most recently wrote the remake of Idolmaker for MGM with Justin Timberlake starring and Craig Brewer directing. He also wrote 5 Alarm for Lionsgate with Jeff Chan attached to direct. Previously he sold the sci-fi feature spec The Ditch to Warner Bros. with Madhouse producing.