Producers Katie Jacobs and Pierce Gardner, who on June 17 open MGM’s Macaulay Culkin-starrer “Getting Even With Dad,” have just made a deal to produce a movie starring the other hot Hollywood kid, Elijah Wood.

Greg Foster, MGM senior VP of production, was close to closing a deal last night for Jacobs and Gardner to produce Duke Fenady’s spec script “Honor Bound,” a William Morris package deal that includes Wood as the film’s star.

The spec package, which includes a low-six-figure advance against mid-six-figure sum for the script, plus Wood’s estimated $ 1 million salary, was put together by Morris agents Dave Phillips and Jim Crabbe, with Michael Gruber repping Wood, sources said.

Wood, who stars in Rob Reiner’s “North,” which Castle Rock opens July 8, will shortly finish work on the Jon Avnet-directed Universal pic “The War,” costarring Kevin Costner.

Award winner

Wood was recently named the first recipient of the Young Star of the Year Award at the upcoming NATO/ShoWest.

According to sources, MGM hopes to fast-track the film into production before year’s end, so it could conceivably be the next film for Wood, who last month turned 13.

Odd couple

“Honor Bound” concerns the unlikely pairing of kids from opposite ends of the social strata who find themselves on the run after a crime is committed.

It would be classified as a road movie if cars existed in its Elizabethan England setting.

The script was the first by Fenady, a 33-year-old UCLA grad who’s primarily been producing telepix with his father, Andrew (“Yes, Virginia, There Is a Santa Claus”).

The spec sale was launched last Wednesday and all but closed by Friday, save for the negotiation of Wood’s services.

Executive producers on the film will be Brian Swardstrom, Bernie Brillstein and Brad Grey. It’s the first production credit for Swardstrom since he ankled William Morris to become a manager at Brillstein/Grey, taking client Wood with him.

On a roll

For Morris spec specialists Phillips and Crabbe, it’s the second six-figure script auction in a month, following the mid-six-figure sale of “Coma Guy” by Dan Sullivan and Fred Lebow to Caravan through Hollywood Pictures.

Jacobs and Gardner, now exclusive to MGM, also will produce “Dr. Jekyll and Mr. Hyde” at Hollywood Pictures.

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