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Paramount has decided to go “Looking for Alaska,” signing “The OC” creator Josh Schwartz to write and direct the coming-of-age comedy-drama and setting up the project with Mark Waters and Jessica Tuchinsky.

Par outbid several other studios for film rights to “Looking for Alaska,” John Green’s novel of love and loss among teens at an Alabama boarding school and centered on Alaska Young, the reckless girl who’s the object of affection for most males at the school.

Adrian Loudermilk will exec produce.

Deal reunites Paramount president Gail Berman and Schwartz, who worked together on the first two seasons of “The OC” while Berman was prexy of Fox Entertainment. Berman, Pam Abdy and Naketha Mattocks will oversee for Par.

Feature is the first for the 28-year-old Schwartz. Fox renewed “The OC” for a third season in March at the same time that Berman announced she was ankling for Paramount.

“Looking for Alaska” is also the first project Par has set up with Waters and Tuchinsky’s Watermark shingle, which signed a first-look deal with the studio in May.

Green’s book was published by Penguin/Dutton in March. He’s a former book reviewer who signed a three-book deal with Dutton.