{"id":3964,"date":"2012-01-16T00:00:00","date_gmt":"2012-01-16T00:00:00","guid":{"rendered":"http:\/\/worldscreen.com\/tvusa\/2012\/01\/16\/lionsgate-buys-summit-entertainment\/"},"modified":"2012-01-16T00:00:00","modified_gmt":"2012-01-16T00:00:00","slug":"lionsgate-buys-summit-entertainment","status":"publish","type":"post","link":"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/","title":{"rendered":"Lionsgate Buys Summit Entertainment"},"content":{"rendered":"<p><span style=\"font-size: small\"><span style=\"font-family: Verdana\">SANTA MONICA: Lionsgate has made the move to acquire Summit Entertainment, behind the hit <em>Twilight<\/em> movie franchise, for a combination of cash and stock valued at $412.5 million. <\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<div><span style=\"font-size: small\"><span style=\"font-family: Verdana\">The transaction broadens Lionsgate&rsquo;s 13,000 title filmed entertainment library to include <i>The Twilight Saga<\/i>, <i>The Locker<\/i>, <i>Red <\/i>and many others. Summit&rsquo;s <i>Twilight <\/i>film franchise has already grossed more than $2.5 billion at the worldwide box office. Lionsgate&rsquo;s own assets include the highly anticipated <i>Hunger Games <\/i>franchise, which opens March 23.&nbsp;<\/span><\/span><\/div>\n<div><span style=\"font-size: small\"><span style=\"font-family: Verdana\">&nbsp;<\/span><\/span><\/div>\n<div><span style=\"font-size: small\"><span style=\"font-family: Verdana\">The majority of the purchase price was funded with cash on the balance sheet at Summit. The remainder was funded with $55 million of existing Lionsgate cash, $45 million of cash received from a newly issued series of Lionsgate convertible notes, $50 million of Lionsgate common stock and an addition $20 million of cash or stock to be issued at Lionsgate option within 60 days. <\/span><\/span><\/div>\n<div><span style=\"font-size: small\"><span style=\"font-family: Verdana\">&nbsp;<\/span><\/span><\/div>\n<div><span style=\"font-size: small\"><span style=\"font-family: Verdana\">&quot;This transaction continues Lionsgate&#8217;s long-term growth strategy of building a diversified worldwide media company through a combination of disciplined, accretive strategic acquisitions and organic growth while maintaining a solid balance sheet,&quot; said Lionsgate&rsquo;s co-chairman and CEO, Jon Feltheimer, and vice chairman Michael Burns. &quot;We are uniting two powerful entertainment brands, bringing together two world-class feature film franchises to establish a commanding position in the young adult market, strengthening our global distribution infrastructure and creating a scalable platform that will result in significant and accretive financial benefits to Lionsgate shareholders. Rob Friedman and Patrick Wachsberger have built a remarkable organization, and we&#8217;re pleased to welcome Summit&#8217;s talented team to the Lionsgate family. Lionsgate&#8217;s growth has been built over the years in part by the successful acquisition and integration of companies like Trimark, Artisan, Redbus, Debmar-Mercury, Mandate and TV Guide Network and, in each case, Lionsgate has emerged stronger and the company&#8217;s brand has become more resonant.&quot; <\/span><\/span><\/div>\n<div><span style=\"font-size: small\"><span style=\"font-family: Verdana\">&nbsp;<\/span><\/span><\/div>\n<div><span style=\"font-size: small\"><span style=\"font-family: Verdana\">&quot;Jon Feltheimer, Michael Burns and the rest of the Lionsgate team have built an exciting and entrepreneurial content leader over the past 12 years, and we&#8217;re delighted to join together these two great companies,&quot; commented Summit Entertainment&#8217;s co-chairmen Rob Friedman and Patrick Wachsberger. &quot;We believe that the combined entity will be even greater than the sum of its parts and our dramatically enlarged media platform will create tremendous opportunities for all of us within the Summit and Lionsgate families. We want to thank our employees, whose hard work and creativity have led to the successful evolution of Summit into a leading worldwide studio, and the combination of Lionsgate and Summit will be the next chapter in creating a true global media powerhouse.&quot; <\/span><\/span><\/div>\n<div><span style=\"font-size: small\"><span style=\"font-family: Verdana\">&nbsp;<\/span><\/span><\/div>\n<p><span style=\"font-size: small\"><span style=\"font-family: Verdana\"> &quot;As demonstrated by this acquisition, Lionsgate remains focused on preserving a strong balance sheet while pursuing its long-term growth strategy,&quot; added Dr. Mark H. Rachesky, co-chairman of the Lionsgate Board of Directors. &quot;We are big believers in the increasing value of content and this transaction strengthens Lionsgate&#8217;s asset base while providing significant financial benefits, including highly visible cash flow and revenue. We are looking forward to realizing the value of a Lionsgate-Summit combination for     <\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SANTA MONICA: Lionsgate has made the move to acquire Summit Entertainment, behind the hit Twilight movie franchise, for a combination of cash and stock valued at $412.5 million. &nbsp; The transaction broadens Lionsgate&rsquo;s 13,000 title filmed entertainment library to include The Twilight Saga, The Locker, Red and many others. Summit&rsquo;s Twilight film franchise has already &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-3964","post","type-post","status-publish","format-standard","","category-top-stories"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lionsgate Buys Summit Entertainment<\/title>\n<meta name=\"description\" content=\"Lionsgate Buys Summit Entertainment. SANTA MONICA, January 16: Lionsgate has made the move to acquire Summit Entertainment, behind the hit Twilight movie franchise, for a combination of cash and stock valued at $412.5 million. . Author - Kristin Brzoznowski\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lionsgate Buys Summit Entertainment\" \/>\n<meta property=\"og:description\" content=\"Lionsgate Buys Summit Entertainment. SANTA MONICA, January 16: Lionsgate has made the move to acquire Summit Entertainment, behind the hit Twilight movie franchise, for a combination of cash and stock valued at $412.5 million. . Author - Kristin Brzoznowski\" \/>\n<meta property=\"og:url\" content=\"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/\" \/>\n<meta property=\"og:site_name\" content=\"TVUSA\" \/>\n<meta property=\"article:published_time\" content=\"2012-01-16T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/worldscreen.com\/wp-content\/uploads\/2016\/05\/logo.jpg\" \/>\n<meta name=\"author\" content=\"World Screen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"World Screen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/\",\"url\":\"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/\",\"name\":\"Lionsgate Buys Summit Entertainment\",\"isPartOf\":{\"@id\":\"https:\/\/worldscreen.com\/tvusa\/#website\"},\"datePublished\":\"2012-01-16T00:00:00+00:00\",\"dateModified\":\"2012-01-16T00:00:00+00:00\",\"author\":{\"@id\":\"https:\/\/worldscreen.com\/tvusa\/#\/schema\/person\/48d5d8caeca98083bf34512b4ce8c4c7\"},\"description\":\"Lionsgate Buys Summit Entertainment. SANTA MONICA, January 16: Lionsgate has made the move to acquire Summit Entertainment, behind the hit Twilight movie franchise, for a combination of cash and stock valued at $412.5 million. . Author - Kristin Brzoznowski\",\"breadcrumb\":{\"@id\":\"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/worldscreen.com\/tvusa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lionsgate Buys Summit Entertainment\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/worldscreen.com\/tvusa\/#website\",\"url\":\"https:\/\/worldscreen.com\/tvusa\/\",\"name\":\"TVUSA\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/worldscreen.com\/tvusa\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/worldscreen.com\/tvusa\/#\/schema\/person\/48d5d8caeca98083bf34512b4ce8c4c7\",\"name\":\"World Screen\",\"description\":\"The leading source of information for the international media business.\",\"url\":\"https:\/\/worldscreen.com\/tvusa\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Lionsgate Buys Summit Entertainment","description":"Lionsgate Buys Summit Entertainment. SANTA MONICA, January 16: Lionsgate has made the move to acquire Summit Entertainment, behind the hit Twilight movie franchise, for a combination of cash and stock valued at $412.5 million. . Author - Kristin Brzoznowski","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/","og_locale":"en_US","og_type":"article","og_title":"Lionsgate Buys Summit Entertainment","og_description":"Lionsgate Buys Summit Entertainment. SANTA MONICA, January 16: Lionsgate has made the move to acquire Summit Entertainment, behind the hit Twilight movie franchise, for a combination of cash and stock valued at $412.5 million. . Author - Kristin Brzoznowski","og_url":"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/","og_site_name":"TVUSA","article_published_time":"2012-01-16T00:00:00+00:00","og_image":[{"url":"http:\/\/worldscreen.com\/wp-content\/uploads\/2016\/05\/logo.jpg"}],"author":"World Screen","twitter_card":"summary_large_image","twitter_misc":{"Written by":"World Screen","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/","url":"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/","name":"Lionsgate Buys Summit Entertainment","isPartOf":{"@id":"https:\/\/worldscreen.com\/tvusa\/#website"},"datePublished":"2012-01-16T00:00:00+00:00","dateModified":"2012-01-16T00:00:00+00:00","author":{"@id":"https:\/\/worldscreen.com\/tvusa\/#\/schema\/person\/48d5d8caeca98083bf34512b4ce8c4c7"},"description":"Lionsgate Buys Summit Entertainment. SANTA MONICA, January 16: Lionsgate has made the move to acquire Summit Entertainment, behind the hit Twilight movie franchise, for a combination of cash and stock valued at $412.5 million. . Author - Kristin Brzoznowski","breadcrumb":{"@id":"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/worldscreen.com\/tvusa\/lionsgate-buys-summit-entertainment\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/worldscreen.com\/tvusa\/"},{"@type":"ListItem","position":2,"name":"Lionsgate Buys Summit Entertainment"}]},{"@type":"WebSite","@id":"https:\/\/worldscreen.com\/tvusa\/#website","url":"https:\/\/worldscreen.com\/tvusa\/","name":"TVUSA","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/worldscreen.com\/tvusa\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/worldscreen.com\/tvusa\/#\/schema\/person\/48d5d8caeca98083bf34512b4ce8c4c7","name":"World Screen","description":"The leading source of information for the international media business.","url":"https:\/\/worldscreen.com\/tvusa\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/worldscreen.com\/tvusa\/wp-json\/wp\/v2\/posts\/3964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/worldscreen.com\/tvusa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/worldscreen.com\/tvusa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/worldscreen.com\/tvusa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/worldscreen.com\/tvusa\/wp-json\/wp\/v2\/comments?post=3964"}],"version-history":[{"count":0,"href":"https:\/\/worldscreen.com\/tvusa\/wp-json\/wp\/v2\/posts\/3964\/revisions"}],"wp:attachment":[{"href":"https:\/\/worldscreen.com\/tvusa\/wp-json\/wp\/v2\/media?parent=3964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/worldscreen.com\/tvusa\/wp-json\/wp\/v2\/categories?post=3964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/worldscreen.com\/tvusa\/wp-json\/wp\/v2\/tags?post=3964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}