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.

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Charlize Talks Having an “Amazing” Chemistry w/ Kristen in SWATH

The film features two strong female leads, with Charlize battling Kristen Stewart’s Snow White. The Oscar winner told me the two clicked instantly. “We had amazing chemistry, right off the bat,” she said. “We just really hit it off.”

“We had a great time doing it,” Charlize said of the film. “I hope people enjoy it as much as we did.” Not to worry — we’re pretty sure we’re going to love it.


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