Hollywood Ink: Lionsgate Arranges For Custody of Tayor Lautner

· The Taylor Lautner-attached screenplay Abduction found a home at Lionsgate, which reportedly paid around $1 million for the story of a teenager "who has long felt disconnected from his parents, and figures out why." I know that sounds like a lot for an action spec in this economy, but you try negotiating someone down when there's a rarer-than-rare Tasmanian Lautner involved. [Deadline]

50 Cent goes back to school, Miramax welcomes bidders, and more Hollywood Ink after the jump.

· Curtis "50 Cent" Jackson will star in and co-produce Things Fall Apart, about a star college football player who comes to terms with personal tragedy and his own mortality in his senior year. Never mind that Jackson will turn 35 this year or that he'll need to lose 65 pounds for the role before shooting begins in less than three months; Mario Van Peebles is directing, so everything is well under control. [Variety]

· At least four bidders submitted offers for Miramax by Disney's deadline late last week. Reports of their identities vary, but it's widely presumed that Lionsgate, Relativity Media and Summit Entertainment all went kicking the defunct mini-major's tires. Another report notes that billionaire Russian oligarch-turned-American media mogul Len Blavatnik -- a friend of Harvey Weinstein (who also had his eye on MGM) -- made Disney an offer as well. Just saying. [Variety, The Wrap]

· Stephen Merchant and J.B. Smoove have joined the cast of the Farrelly Brothers' extramarital-encounters comedy Hall Pass. [THR]

· Sure, James Cameron may have ceded No. 1 to a girl both at the domestic box office and in the awards race. But! For 10 weeks and counting, he's still King of the World. [THR]