The company's predecessor was an entertainment production studio Northern Lights Entertainment, owned by Reitman.[1] It originally started off with a deal at PolyGram Filmed Entertainment.[3] Ultimately, the deal collapsed after Universal Pictures (which Pollock previously ran from 1986-1996) took control of PolyGram's assets[2] and Montecito signed a first look deal with DreamWorks Pictures instead.[4] On March 9, 2000, it extended its pact with writer/director Todd Phillips, after the success of the hit movie Road Trip.[5]
After several years at DreamWorks, on February 18, 2009, the company signed a first-look deal with Paramount Pictures.[6] The deal was ended on March 16, 2013;[7] and in 2015 the company moved into offices on the Sony lot. Tom Pollock died in August 2020, and Ivan Reitman died in February 2022.