Fast as lightning, DreamWorks is negotiating to pick up the high-concept comedy “Kung Fu Theater” from its former home at Paramount Pictures-based Mandalay Pictures.
Project would mark one of the first buys under Michael De Luca, recently installed as DreamWorks’ production prexy. Spec was bought by Mandalay in September last year for high-six figures.
DreamWorks is understood to be aiming for a late November start.
Musicvideo helmer Nick Quested came onboard pic late last year to make his feature helming debut. Quested, who’s directed videos for Puff Daddy, Nas and Dr. Dre, also helmed commercials for Lexus and Range Rover.
Penned by Tom Jankiewicz (“Grosse Pointe Blank”), pic was developed with Paul Jay Shrater, who co-wrote the story and will serve as exec producer on the project. A parody of the martial arts genre, “Theater” follows a comicbook artist who, parked in front of his TV, finds himself magically transported into a martial arts film — one in which he recognizes all of the storylines and characters from his favorite Saturday afternoon chopsocky pleasures.
Mandalay exec VP of production Ori Marmur is supervising the project for the company; De Luca is overseeing its development along with theatrical production exec Marc Haimes at the studio.
Quested is repped in the deal by the William Morris Agency and is managed by MBST.