Medavoy, whose credits include Zodiac, Holes and the in-production Shanghai, will produce with colleagues Arnie Messer and David Thwaites.
Grisham is represented by longtime editor-agent David Gernert of The Gernert Company and attorney Michael Rudell of Franklin Weinrib Rudell & Vassallo.
Executive vice president of business affairs Rochel Blachman brokered the deal for Phoenix.
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