Jason Reitman books rights to 'Allagash'

6:32 AM PDT 10/14/2010 by Borys Kit, AP

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THR EXCLUSIVE

Jason Reitman and his Right of Way Films banner have optioned movie rights to "Elliot Allagash," a novel by Simon Rich.

Reitman co-created Right of Way with Indian Paintbrush, the financing and production entity run by billionaire Steven Rales. Right of Way will produce with Indian Paintbrush, which also will finance the film.

Rich, now a writer on NBC's "Saturday Night Live," will tackle adapting "Allagash." Right of Way's Helen Estabrook will executive produce.

Reitman intends to produce the adaptation; whether he intends to direct hasn't been determined.

"Allagash," which offers a satiric take on private schools and the excesses of the rich, centers on Seymour Herson, a boy who is regularly picked on at his private school. He is taken under the wing of the book's title character, a teen who regularly gets drunk and enjoys villainy.

Random House published the book in May.

Rich, a former president of Harvard Lampoon, has authored two collections of short stories -- "Ant Farm" and "Free-Range Chickens" -- and recently sold his latest novel to Reagan Arthur Books. Repped by CAA, he wrote a comedy spec titled "When a Stranger Calls a Dude" with Bill Hader for Judd Apatow.

Although Reitman hasn't committed to directing a movie since coming off multiple Academy Award nominations for "Up in the Air," he has made moves on the producing front. He is producing, with Indian Paintbrush and John Malkovich's Mr. Mudd Prods., "Jeff Who Lives at Home," the latest comedy from Mark and Jay Duplass ("Cyrus"). Indian Paintbrush is also financing "Jeff."