Safran pens, Leddy to helm

“Corky Romano” co-star Dave Sheridan will receive a seven-figure payday for the Summit Entertainment production “Action!” Summit is wholly financing the broad comedy, which is budgeted at about $25 million and also will star Gabriel Macht (“American Outlaws”).

The project, which was penned by Tad Safran under the supervision of “Scary Movie” scribes Jason Friedberg and Aaron Seltzer, spoofs action pictures in much the same way “Airplane!” took on the disaster genre. Directed by “Mad TV” helmer Bruce Leddy, production on “Action!” begins in January in Vancouver.

Budget milestone

Summit is seeking domestic distribution on the pic, which is the highest budgeted greenlight in the company’s history. Pic is targeted for a summer 2002 release.

Produced by Summit partners Patrick Wachsberger and Bob Hayward, pic will be exec produced by Summit production prexy Erik Feig and Brillstein Grey’s Brad Grey and Peter Safran, as well as Friedberg and Seltzer.

Summit Intl. will offer the pic for foreign sales at the upcoming London Screenings and Mifed.

Sheridan, also seen in this summer’s “Bubble Boy,” is repped by CAA and 3 Arts Entertainment. Macht, whose credits include the upcoming “Behind Enemy Lines” and “Bad Company,” is repped by UTA and 3 Arts.

Leddy is repped by the Gersh Agency. Seltzer and Friedberg are repped by CAA and Brillstein Grey.

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