Lions Gate Entertainment Corp. (LGF) acquired “Twilight” producer Summit Entertainment LLC for $412.5 million in cash and stock, uniting two of Hollywood’s largest independent studios. Most of the purchase was funded with cash from Summit, Lions Gate said yesterday in a statement. Both film labels, run from Santa Monica, California, will remain active producers and… Read more »
We haven’t steered our entertainment dollars toward the brooding, mountain-lion-eating vampires of the “Twilight” epics, but we’d certainly be more interested in seeing one if it featured a crossover from the no-nonsense Madea. As expected, Rizvi Traverse Management-backed Summit Entertainment has been sold to Lionsgate. (Fun fact: Lionsgate says its library has 13,000 titles – this means… Read more »