Paramount Wins Bidding Battle For Kay Oyegun Comedy Spec ‘Assisted Living’ As ‘King Richard’ Still Volleying

EXCLUSIVE: There were two big movie spec properties in play this week, and one of them is now spoken for.

In a high six against seven figure deal, Paramount Pictures tonight won Assisted Living, a script by Kay Oyegun that had Sony, Endeavor Content and Netflix in the mix as well. Sources said the high concept was being called Sister Act meets Mrs. Doubtfire, where a thief on the run from her old crew holes up in a retirement home. Paramount is looking to score with comedies after Book Club became a hit, and next has the upcoming Miguel Arteta-directed Limited Partners with Tiffany Haddish, Rose Byrne and Salma Hayek upcoming.

The other package — Will Smith starring as Venue & Serena Williams’ father in the Zach Baylin-scripted King Richard — heads into the weekend unspoken for, but it will be the biggest deal made this year as sources said that Warner Bros, Universal, Netflix — for Barack & Michelle Obama’s new production label, I hear — were all in the mix for a film sources said is now looking like a $50 million package for a green light and a fall start.

Back to Assisted Living. Oyegun is a rising star in the writers room of the NBC drama This Is Us. She wrote the Angela Davis movie as Lionsgate, and is writing the BPI script at Warner Bros with Andrew Lazar producing.

The film will be produced by Temple Hill, along with Stephen Love. This becomes Marty Bowen’s first big project win since tethering his label to Paramount after leaving Fox.

Kay is repped by Trevor Engelson at Underground, ICM Partners and attorney Allison Binder.