According to Bloomberg News, Lionsgate has acquired Summit Entertainment, the independent film label responsible for the distribution of such films as the first four installments of the “Twilight” series, and acclaimed hits like the Oscar-winning “The Hurt Locker” and this year’s Golden Globe-nominated “50/50.” The announcement was made over the past weekend. Both companies, which are headquartered in Santa Monica, CA, will continue to operate as individual labels. Lionsgate hopes to realize cost savings by consolidating some operations within the two units while banking on the new opportunities the Summit enterprise will provide.
Lionsgate Entertainment Corp. was responsible for the highly-successful horror franchise “Saw”, and more recent hits like “The Expendables.” The company will also distribute the adaptation of the hit young-adult novel “The Hunger Games” in March, and has been responsible for delivering Tyler Perry’s large gamut of films. Perry has three more theatrical releases in the works, the most recent being “Tyler Perry’s Good Deeds” which will be released on February 24.
Summit Entertainment’s next effort will be “Man on a Ledge.” The film, which starts Sam Worthington, Elizabeth Banks and Ed Harris, will open on January 27. Summit’s most recent releases were 3D actioners “The Three Musketeers” and “The Darkest Hour”, and the latest “Twilight” film, “The Twilight Saga: Breaking Dawn, Part 1.”
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