Inside Move: ‘Action’ faction

Summit aims for top with solo pic effort

This article was corrected on Nov. 1, 2001.

Summit Entertainment’s lineup for the London Screenings and Mifed includes Martin Campbell’s “Beyond Borders” and Matthew Perry laffer “Servicing Sara” — both high-profile pics from its relationship with Mandalay Entertainment.

Summit’s most important project this fall is the homegrown “Action!” — a broad comedy with a $25 million-plus budget that rests squarely on Summit’s shoulders.

“Two years ago, we started putting projects in development,” said Summit prexy-CEO Patrick Wachsberger. “A lot of the screenplays we were getting were crap. We decided the only way to get great material was to develop it ourselves.”

Toplined by Gabriel Macht and Dave Sheridan, “Action!” is an action-movie spoof that began as a concept from Summit production president Erik Feig. Developed by “Scary Movie” scribes Jason Friedberg and Aaron Seltzer with tyro scribe Tad Safran, pic is in prep for a January start with Brillstein-Grey exec producing.

With the pic, Summit is launching what it hopes will be a franchise — using coin from Union Bank and covering the gap with its own assets.

“The way we look at the business now it’s not ‘How much am I going to make?,’ ” says Wachsberger of the decision to tackle “Action” solo. “It’s ‘How much am I prepared to lose?’ We’re putting the money where our mouth is.”

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