Summit and Lions Gate ( ‘Twilight’ and ‘The Hunger Games’ studios ) in talks to merge
The companies have resumed discussions that broke down in the past over price and control issues, said the people, who declined to speak publicly because talks are private and there’s no assurance a deal will be reached.
Lions Gate would gain access to the cash generated by the five “Twilight” movies. The first four films have grossed more than $1 billion in worldwide ticket sales, according to Box Office Mojo. A sale would be a payday for owners of closely held Summit who formed the studio in 2007 with funding from Merrill Lynch & Co.
Summit, based in Santa Monica, California, is scheduled to release the fifth “Twilight” movie in a year. Lions Gate has about $550 million in short- and long-term debt, according to Bloomberg data, and has struggled to remain profitable.
Melissa Zukerman, a spokeswoman for Summit, declined to comment. Peter Wilkes, a Lions Gate spokesman, didn’t immediately respond to phone and e-mail requests for comment.
Lions Gate, also run from Santa Monica, California, produces cable TV’s “Mad Men” series and in March will release “The Hunger Games,” a film based on a young-adult book trilogy that has been compared to the “Twilight” novels.
“The Hunger Games” and three potential sequels may generate $220 million to $733 million in earnings before interest, taxes, depreciation and amortization over the next several years, according to James Marsh, an analyst at Piper Jaffray & Co. in New York.
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Comment by Alison Genet on November 29, 2011 at 9:15am -
NO!!!!
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Comment by Nanna Carlsen on November 29, 2011 at 10:11am -
I don't get it, Summit wants to gvie the earnings of Twilight, to Lionsgate, så they can produce The Huger Games movies?
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Comment by Cassidy Dawn Novotny on November 29, 2011 at 11:01am -
I think It's a great Idea, The Hunger Games will probably have almost or as many fans as the Twilight Saga has! They would certainly benefit from combining they're companies!
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Comment by Cassidy Dawn Novotny on November 29, 2011 at 11:02am
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And why "NO!!!!" Alison Genet?
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Comment by Alison Genet on November 29, 2011 at 11:40am
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Cassidy-The trailer for the Hunger Games was EPIC. Not sure I want Summit spoiling THG movies with their views once they give $$ to Lionsgate.
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Comment by Kim on November 29, 2011 at 1:08pm -
Summit makes poor quality movies & puts profits ahead of quality. I hope nothing happens til after The Hunger Games comes out so we can see the movie w/o Summit interfering in it.
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Comment by isabella m. cullen on November 29, 2011 at 7:42pm -
I am a huge hunger games fan and i do agree with Kim and Alison Genet about this not being such a good idea. Summit did great with the twilight movies, but it didnt come without problems, such as releasing Rachelle for Bryce as Victoria all beacause of money problems. Bryce was great but Rachelle was THE perfect Victoria. I just hope Lionsgate knows what thier getting into.
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Comment by Vivi217 on November 30, 2011 at 12:32am -
TO THE F****** HELLS NO!!!
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Comment by Eclipse on November 30, 2011 at 3:08am -
If Lionsgate are up to their ar$es in debt, they'll have to sell to the highest bidder...whether that's Skummit, who know...Can't stop the men in suits and their Mergers & Acquisitions people, no matter how disgusting...it's always the fans that end up getting the boot up one's bottoms in terms of decreasing quality etc etc
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Comment by kady_cullen on December 1, 2011 at 1:15pm -
i get everyone's point. But isn't it ironic that THG will actually benefit from the TWILIGHT movies? Well, we have to admit that lionsgate has been riding on twilight's coattails for some time now.
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