Chris Columbus' 1492 Pictures, along with Ocean Blue Entertainment, have pre-emptively purchased the spec "12/24" written by Matt Lieberman.

The spec is based on an original idea by "Safe House" scribe David Guggenheim who will produce with Madhouse Entertainment along with Columbus, Michael Barnathan and Mark Radcliffe for 1492 Pictures.

Story revolves around brothers set out to prove that Santa Claus is real, using their home video camera. The boys get more than they bargained for when they end up joining Santa's epic Christmas Eve ride. After inadvertently causing Santa's sleigh to crash, the brothers need to work together to save Christmas.

1492 hopes to see similar success of other found footage pics such as "Cloverfield," "Super 8" and "Chronicle" which were all made on a budget and over-performed at the box office.

Matt Lieberman most recently wrote "Short Circuit" for Dimension. He is repped by WME and Madhouse Entertainment. Guggenheim is repped by Paradigm and Madhouse and most recently sold the spec "Black Box" to Universal with Scott Stuber attached to produce.

1492 is repped by WME and most recently produced "Percy Jackson: Sea Of Monsters."