Lionsgate and Summit Closing in on Merger
Talk had surfaced a couple of months ago about a merger of Lionsgate and Summit and now Deadline has the scoop that Lionsgate is close to cinching a deal that would absorb Summit Entertainment into Lionsgate and considering the political climate within, Summit would likely then cease to make movies. It’s quite surprising that the deal is pointed that way considering the mega success of the Twilight franchise.
What a shame for Summit that’s had so much success. It’s hard to believe it ended up a takeover target since it was sitting on so much cash that it had hired an investment bank to help it expand by acquiring other companies and even getting into television. But none of that came to pass.
Wachsberger and Friedman owned 30% of privately owned Summit and investors owned the other share, including Rizvi Traverse Management which had a lions share, and everyone was eager to see a payday.
The common belief is that Summit was struck by lightning with the success of the Twilight saga franchise but that”s now coming to an end with Breaking Dawn Part 2 debuting in November. So this was the right time for everyone connected with Summit to score a windfall.
THATS WHAT YOU GET FOR SUPPORTING TWLIGHT!
Omg, we are now literally ENGULFING the twilight franchise!
does this mean that if the deal was closed before catching fire and breaking dawn was made, that lionsgate wouldn’t make them?
No, Lionsgate makes the Hunger Games movies. This probably means that Lionsgate would own Twilight after the merger.
Wait, so what happens to Ender’s Game and the last Twilight movie?? Will they just be made by Lionsgate instead?
Wait a minute lionsgate is now gona own summit?
Hmmm I’m no industry expert, but Breaking Dawn 2 is already filmed (they both movies at the same time) and is in post=production with a release date od Nov. 16, 2012. Ender’s Game hasn’t yet begun filming. Don’t know how that will shake out… One thing you can be sure of – if there is money to be made, these films won’t get left behind.
Wow. Lionsgate is gonna be big!
Anyway, I’m not an expert in any of this merger and movies stuff so IDK if this is a good or bad idea. Either way, it sucks for Summit that they’re pretty much finished. they had a good run, but hey all good things must come to an end. I just hope Lionsgate puts their foot down when it comes to THG b/c Summit really messed up on the Twilight movies and Lionsgate actually seems to care about THG fans and they care about pleasing us. Lets hope this merger ends up being good!
oh good grief.
Twilight hates us.
WE hate Twilight.
NEITHER of us want to be together! We would all be a lot happier if we just stayed as far apart as possible.
@Waverly Okay, this is two movie studios merging, it’s not like they’ve just announced that Suzanne Collins is having her brain fused with Stephenie Meyer.
So Lionsgate WONT own Twilight? Whew.
No, Lionsgate won’t own Twilight. The second part of Breaking Dawn has already been filmed, and it was produced by Summit. So Lionsgate won’t be attached to it at all.
Oh. My. God. Really guys? Quit being Twilight haters! The people of Twilight don’t hate us. I happen to like Harry Potter, Hunger Games, and Twilight. To all who haven’t tried seeing the movies, or read the books, have an open mind. And if the stories didn’t jump out at you then be a true Hunger Games fan and stay away from the Twilight franchise. Sure, both stories are captivated by literally millions, but they are also two completely different stories. There are reasons to mention it, (such as the talks of the merger) and there are times not to (like an actor from Twilight to play a character in THG) but in my opinion, the fans on either side shouldn’t be so mean to each other, but be proud at the fact that a series that they love has made such an influence on people.
I’m sorry if I offended anyone, but I had to let it out.
I would just like to point out once again, that many of the original Hunger Games fans are/were Twilight fans. I was a fan of Twilight, and the way I found out about The Hunger Games book was through Stephenie Meyer’s website, because she recommended it. I’d bet that at least close to half of the Hunger Games fans are Twilight fans. So WHY do people have to be so small minded toward them? It’s like cutting off your nose to spite your face.
Regarding the twilight issue, I was not directed to the hunger games via Meyer’s website. I have read the twilight series and I found it to be extremely poorly written. I found the Hunger Games on a shelf in my local bookstore and it intrigued me. The reason I don’t like anything to do with Twilight being mentioned near THG is because I do not want the two compared. Because they are very different things. If you like twilight then go ahead and like it, I don’t rule your life. But I’m firmly anti.
I’m not too surprised the deal is pointed that way personally, because it’s pretty obvious that Twilight’s success is not a result of Summit (except insofar as Summit abandoned the early unrecognizable script and went with a faithful adaptation). Twilight’s success is the result of the books’ enormous fanbase with an assist from Robsten fans. Summit hasn’t proved they can make a hit film that doesn’t star Bella and Edward. They’re coming off of two recent flops (Three Musketeers and Darkest Hour). But they still have a huge hit in Breaking Dawn 1, and a sure hit in Breaking Dawn 2, which means now is the time to sell. Meanwhile, Lionsgate is coming off three flops and no hits, and they’re pinning all their hopes on an unproven franchise which could either be a hit or could underperform like the last critically acclaimed adaptation of a hyperviolent bestseller (I’m looking at you, Dragon Tattoo). So they need the cash, and Summit has the cash. But if Hunger Games underperforms, or doesn’t maintain momentum, then Lionsgate will be in the exact same pickle in a few years, and there might not be a Twilight-rich studio to save it this time.
hm, this is starting to make me think. I don’t think this has anything to do with Twilight, at all. I was more thinking about the newer trilogy Divergent. This book was extreamly good, and near THG standards. (In my opinion) And just recently the rights to this movie were taken by Summit. And since Summit is being taken over by Loinsgate, this means Loinsgate has the opprtunity to release two different trilogies: One of which is a huge phenominon, and the other which has the potential to become something huge as well.
I believe Twilight (movie) was as bad as I was because it was poorly written, (in my opinion) and it just seemed to drag endlessly on and on. I found out about THG last year in 8th grade when we read the book in class. So Twilight didnt draw me into it.
I found out about Divergent from a friend, and never gave it much thought until I got my kindle, but it really was a great read, and hopfully a great movie as well in the future.
I have to respectfully disagree. I thought Divergent was “just ok” and I would think that Ender’s Game has MUCH more of a draw than that, being that it’s got a fanbase that’s been building for thirty years and already has a big name cast (Harrison Ford, Asa Butterfield, Ben Kingsley, Hailee Steinfeld, Abigail Breslin). Divergent doesn’t even have a second book out.
That being said, I doubt it has anything to do with the projects in Summit’s pipeline. It’s all about money and like other people said, Summit just so happens to have 1) a lot of it and 2) investors that want a piece of it by cashing in and selling.
what?
@Crystal
I will agree to a point. THG was still the best, no doubt about that, But I’m just reaching out to other books that have the potential to be ranked as good. Insurgent, the second book of the Divergent trilogy is set to come out May first.
Either way, I do agree, it is all about the money. And the only way to draw people to see movies who haven’t read the books (or have no intentions of reading ever) is a wide cast of well known famous people… or an amazing trailer.
it’s all about the money, honey.
We? WE? “We” aren’t Lionsgate. We just happen to support one of its films, guys. LOL.
WHen they go together they can make more money, and produce better films…hopefully
i like twilight book series. i thought it was pretty well written. i am not a fan of the movies since the starlet can barely get a word out. she’s so irritating! i love the hunger games series…. and i hope to love the movie, though some of the casting choices have me doubtful. i do hope that the movie turns out as awesome as the book. i also liked divergent. it would probably make a pretty good movie… and the maze runner is also a pretty good series. there are lots of good series out there.