Larry Cohen first came up with the idea of an entire film set in a phone booth 30 years earlier over lunch with Alfred Hitchcock. HItch loved the idea but they couldn't come up with a reason as to why he couldn't leave the booth. When Larry ran into him again at a party after the "Frenzy" premiere, he demanded, "How are you coming along on our phone booth movie?".
Three decades later and Larry solved the problem. A sniper. Several directors and stars were interested along the way. First Tom Cruise and Steven Spielberg. Then a short lived combination of Will Smith and Michael Bay which ended after Bay tried to get him out of the phone booth! That is when The Hughes Brothers (Dead Presidents) were assigned and Dustin Hoffman, Al Pacino and Robin Williams were interested, but the studio wanted to go younger. The Hughes Brothers got pulled off onto From Hell and the film went to Joel Schumacher and Jim Carrey, finally resting with Colin Farrell.
This script draft is from the Hughes Brothers short time at the helm. Although the basic plot is there, the script is significantly different with very little of the final dialogue and a starkly different ending. Lets just say they didn't leave room open for a sequel.
It clearly went through some major rewrites before Schumacher committed it to film.
I personally think this script would have made for a much better movie and feels more claustrophobic and Hitchcockian.
This is a original clean production script on white paper with light gray card end covers and is in excellent condition.
Much of this information came from an excellent article by Larry Cohen himself here.