Lionsgate close to completing deal to purchase Summit Entertainment
Posted on Jan 08, 2012 by Amy with No Comments.

Will one entity soon be the producers behind two of the biggest young adult book to film franchises?
Lions Gate Entertainment Corp. could soon corner the market on young adult franchises. According to Bloomberg the studio producing the upcoming “The Hunger Games” film is close to completing a deal to purchase Summit Entertainment, the studio behind our beloved “Twilight Saga,” for $700 million.
The Bloomberg article indicates that Summit has been negotiating exclusively with Lions Gate for the last week and an announcement of the deal could come as soon as next week. As part of the deal, Lions Gate will pay more than $400 million for Summit’s equity and assume less than $300 million in debt.
Merger talks between Lions Gate and Summit go back to 2008 and resurfaced in late 2011, but seemed to fall apart before the holidays. As late as yesterday the New York Post reported that a deal could not be reached, but all indications today is that talks are back on and that the studios are close to a deal.
In addition to “The Hunger Games,” Lionsgate is also the studio behind “Abduction,” “Monster’s Ball,” the “Saw” franchise, “Kick Ass,” “The Expendables” and the upcoming “The Expendables 2″ and ”What to Expect When You’re Expecting.” On the television side Lionsgate produces “Mad Men,” “Weeds” and “Nurse Jackie.” Lionsgate stands to gain the lucrative “Twilight” franchise as well as adding Summit’s Oscar-winning war drama “The Hurt Locker” to its library of 13,000 films and TV shows.









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