Spec comes from Galvin, Speakman team

MGM’s going on a journey with “Executive VP David M. Murch’s Adventures in Zametherea,” snapping up the comedy spec from the writing team of Michael M.B. Galvin and Peter Speakman.

Project — seen as a modern-day “Wizard of Oz” — has been set up with Rick Benattar (“Shoot ‘Em Up”), Jim Wedaa and Rick Alexander.

“Zemetherea” centers on a hard-charging, cold-hearted investment banker who gets a chance to revisit the forgotten, magical land of his childhood imagination and must turn for help to his estranged 10-year-old son.

Galvin and Speakman have also penned “Red Tails in Love,” “Your Word Against Mine,” centered on the world of Scrabble championships; and “Strutter,” a comedy set in the world of competitive speedwalking.

Spec purchase is the latest in the wake of moves by newly installed film honcho Mary Parent to build up a homegrown slate. The Lion and New Line signed Guillermo del Toro last week to direct two “Hobbit” pics back-to-back.

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