Columbia Pictures has snapped up Johnny Rosenthal’s action-adventure spec “Iron Jack” for $1.25 million against $2 million. Todd Garner is producing through his Broken Road Prods. banner.Spec sparked a heated bidding war that involved MGM, CBS Films and Spyglass. Set in the 1930s, story centers on a renowned novelist and his quest for a legendary treasure. George Heller and Jeremy Bell are exec producing. Rosenthal’s credits include the comedy “Friendly Skies,” which is in development at Paramount Pictures with Alec Baldwin and Will Arnett attached to star. He also has an untitled family comedy TV series in development at Regency and Fox. He is repped by Paradigm.