Tuesday, February 3, 2009

Summit & Lion's Gate Discuss A Merger Last Fall

You may have read about a possible merger between Summit & Lionsgate. The LA Times has an article saying the merger was discussed last fall, before Twilight was released.

"A few weeks before the late November release of Summit's box office smash "Twilight," the company headed by Patrick Wachsberger and Rob Friedman, was approached by Lionsgate about a potential merger. Lionsgate, well aware of the teen vampire film's hot pre-release buzz, made an offer for Summit but was rebuffed because the price was too low."

Basically the article says Summit & Lions Gate aren't merging, at least not yet. The idea was discussed but nothing is happening. According to the article:

"The idea has been broached, according to insiders, but nothing is cooking. Such a corporate marriage, were it to happen, would unite a suddenly hot movie production company with Hollywood's leading independent movie and TV studio, which is behind the "Saw" and "Tyler Perry" franchises."

"Lionsgate and Summit, which are located right around the corner from each other in Santa Monica, say privately that there have been no formal talks since last fall. That's not to say that Lionsgate Chief Executive Jon Feltheimer and Summit's Friedman, who are golfing buddies, would never discuss it between rounds. Who knows?"

Read the entire LA Times article here.


Also from Nikki Finke's Deadline Hollywood:

"Now I've confirmed that the merger talks are old news and took place before Summit's Twilight hit big. As one of my sources tells me, "Those discussions went on at the end of the summer and beginning of September. Nothing came of it as Summit started to realize how big Twilight would be.""

~Kim

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