Lookout Lionsgate, You’re Not the Only One Who Wants to Merge With Summit

Recently it was reported that Summit and Lionsgate were in talks for an upcoming merger. Now it lookslike there is a new player at the table.

According to Bloomsberg News:

Colony Capital LLC, owner of the Miramax film library, is in talks to acquire a stake in Summit Entertainment LLC, maker of the “Twilight” vampire movies, two people with knowledge of the situation said.

Colony, the private-equity firm led by Tom Barrack, initially sought the stake in Summit held by hedge fund Rizvi Traverse Management LLC and others, said one of the people, who declined to speak publicly because the talks are preliminary. The parties are also discussing combining Summit and Miramax, leaving Summit management in charge, the people said.

The Colony interest creates competition for Lions Gate Entertainment Corp. (LGF), which is in talks to acquire Summit. Lions Gate, the studio behind “Saw” and the Tyler Perry comedies, resumed discussions with Summit that broke down in the past over price and control issues, three people with knowledge of the situation said this week.

Like we said before, no matter what way these things pan out, the only certainty is that it’s going to make life around here interesting!

Comments

  1. I think it’s funny… Summit is bringing in the big money thanks to Twilight and now all these other companies want to merge with them. What happened to the day when everything wasn’t just about making another buck. These people are so greedy…

  2. Am I the only one amused by these potential mergers popping up now that the success of the TW series is starting to wind down for Summit? Shame that these weren’t popping up after the series blew up bigger than they expected it to be because maybe some things would have turned out differently (like Eclipse) had Summit been merged with another company.

  3. I totally agree Diane! They make merchandise out of everything! :/ I think it’s wrong, and there is no focus at the movies (or the books) in their point of view..

  4. Really? ‘Tasha Ledger says: Scummit will not be doing well once the Twilight gravy train is over’.

    It’s over? Really? I do not think so.
    Frankly it seems that some of you arent Twilight fans and that any work there after the saga is not good.
    You speak as if Lionsgate was great thing, and it is not, the series of Lionsgate so far, only copied what Summit does(And it seems that marketing is already working for some of you, right? Shame) and did the films for Tyler Perry.
    For me de Saga And still not over.
    And I’m NOT excited for that ‘The Hunger Games’ Serie.

  5. Seems like everyone in the industry wants Twilight to save their butts…

  6. All Summit cares about is money???

    Honey, that’s all EVERY movie studio in Hollywood cares about! What planet have you been on?? You act like Summit is the only one who looks at the bottom line.

Trackbacks

  1. […] Leave a CommentOK, so first there were rumblings of a Lionsgate and Summit merger. There there was Miramax getting in on the act with their vast movie library. And now the story I had to read twice to make sure I understood […]

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