Summit Ent., the house that TWILIGHT built, and Lionsgate Ent., which is wrapping production on what is hoped to be the next TWILIGHT-like franchise THE HUNGER GAMES, have resumed merger discussions, writes The Hollywood Reporter.
Summit Ent., the house that TWILIGHT built, and Lionsgate Ent., which is wrapping production on what is hoped to be the next TWILIGHT-like franchise THE HUNGER GAMES, have resumed merger discussions, writes The Hollywood Reporter. Previous talks ended over disagreements on the two companies' worth and who would run a combined company.
Summit is a private company, which recently wrapped up a $750 million refinancing deal that eliminated some high-interest debt. This allowed it to pay $200 million in dividends to investors and its execs. Peak Group Holdings is the company's biggest investor.
Lionsgate, on the other hand, is a Canadian public firm. For the second quarter, the company reported a $24.6 million net loss. In addition to its film business, it produces such TV series as MAD MEN, WEEDS, NURSE JACKIE and BOSS. At close on Monday, the company's stock was trading at $8.53 per share.
Rick DeMott
Animation World Network
Creator of Rick's Flicks Picks
