Columbia has proven its mettle, picking up the much sought after Johnny Rosenthal spec Iron Jack for seven figures.

According to The Hollywood Reporter, many studios were vying for the comedic action adventure, which is set in the 1930s and involves a renowned novelist and his quest for a legendary treasure.

Rosenthal has found a treasure of his own, with Columbia playing $1.25 million against $2 million for the screenplay.

"This is one of the funniest and most original scripts we have read in a long, long time," said the Columbia co-president of production Doug Belgrad.