Ivan Reitman and Tom Pollock's Montecito Picture Co. has won the heated war over "The Ugly American," outbidding nearly every major studio Wednesday with a whopping check that topped $3 million to pick up the script by Alec Berg, Jeff Schaffer and David Mandel. "Ugly American" follows the misadventures of five friends who go on a trip criss-crossing Europe following their high school graduation. Reitman and Pollock executive produce, with Montecito's Dan Goldberg, Joe Medjuck and Jacqueline Josephson handling producing chores.

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