It’s Official: Lionsgate Buys Summit Entertainment for $412.5 Million

And history has been made. Today confirms the day that it was officially announced and confirmed via press release that Lionsgate is buying Summit Entertainment, the upstart indie distributor movie studio that started in 2006 and hit it rich with the still-not-over-yet Twilight series. The momentous deal was rumored for months and nearly confirmed earlier this week, but the press release announces the sale involves “a combination of cash and stock valued at $412.5 million.” I’m much more interested to see how these two “indie” studios join forces to become one powerful Hollywood movie studio, it’ll be an exciting time ahead. The transaction unites two leading studios with powerful brands and complementary assets, solidifying Lionsgate’s position as the world’s largest and most diversified independent entertainment company. By acquiring Summit, Lionsgate enhances its feature film and home entertainment offerings and further broadens its 13,000 title filmed entertainment library to include such titles …

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