An unknown writer, a fast-rising feeding frenzy, and a true multimillion-dollar deal. It’s enough to make executives or aspiring screenplay authors dream of the heady spec script deals of the 1990s.

Searchlight Pictures has successfully acquired the rights to the spec script Clean Break from rising writer Ryan Brennan. The studio won the project in a bidding competition against other studios.

After a competitive bidding war, Fifth Season, the financing and production banner formerly known as Endeavor Content, and Brad Weston’s Makeready banner have acquired the spec script “Alignment” from ...