Lionsgate Buys Out Summit For $412.5 Million + Stock

Summit Entertainment co-chairmen Rob Friedman and Patrick Wachsbergerplan to be at their desks Tuesday morning doing business as usual, both said on Friday after it was announced that Summit will be acquired by Lionsgate.

“What we’ve made clear is we have two businesses running parallel,” Friedman toldThe Hollywood Reporter in an interview on Friday. “They are merging but they are going to continue operating [separately].”

Lionsgate announced Friday it had closed its leveraged buyout of Summit, home to the Twilight franchise, in a deal for $412.5 million in cash and stock and the assumption of Summit’s $500 million debt.

Source | Via

Related Posts Plugin for WordPress, Blogger...
Summit, Twilight

Leave a comment.