Adam McKay has signed a first-look feature film deal with Paramount Pictures for his new production company, Hyperobject Industries.

It’s the second first-look deal McKay has inked in about a week following a five-year television deal to develop content for both HBO and the streaming service HBO Max. He’s developing a limited series under that deal about Jeffrey Epstein, based on Miami Herald investigative reporter Julie K. Brown’s upcoming book about the financier.

“Let’s face it, the times we’re living in are bonkers,” McKay said. “There’s a lot of change and upheaval. Some of it good. Some of it terrifying. We want Hyperobject to dive straight into these upside-down times with diverse creative partners, new ideas and projects that can excite audiences and generate event movies, TV, streaming or whatever.”

McKay’s long-time producer Kevin Messick is also a partner at Hyperobject. Producer Betsy Koch will continue to work with McKay at the new company across both film and TV projects. Hyperobject recently hired producer Todd Schulman, who worked with Sacha Baron Cohen on “Borat,” and is a producer on the upcoming 2020 romantic comedy “The Lovebirds.”

McKay and longtime producing partner Will Ferrell split up their Paramount-based Gary Sanchez banner in April after more than a decade together. Projects produced under their Gary Sanchez banner include “Vice,” “Step Brothers,” “Talladega Nights,” and the “Anchorman” and “Daddy’s Home” movies.

“We have long enjoyed a successful creative and collaborative relationship with Adam, and couldn’t be happier to be alongside him on this journey as he explores this latest chapter,” said Wyck Godfrey, president of Paramount’s Motion Picture Group.

McKay has been nominated for five Academy Awards, including best picture, director and original screenplay for “Vice.” He and Charles Randolph won the adapted screenplay trophy for “The Big Short.”

McKay also said Hyperobject Industries projects will not be part of any packaging deals through WME, which represents him as a director and producer. McKay declared earlier this year that he would not participate in WME packaging deals due to his support for the Writers Guild of America’s ban on members being represented by any agency that has not agreed to stop packaging fees.

McKay is represented by WME and Ziffren Brittenham LLP.