The two biggest independent US studios join hands.
It was not a big surprise that after a very successful last year for both companies, Lionsgate decided to buy Twilight Saga producers Summit. Summit had the highest income last year out of „Big Six“ studios, grossing worldwide more than 750 million. The main chunk of course came from Twilight Saga: Breaking Dawn Part 1, but other big movies such as The Three Musketeers and Source Code were quite successful too.
Incidentally, Lionsgate was the second biggest grossing independent movie company last year. The big trio of films: Immortals, Limitless and Season of the Witch contributed to almost 400 million in 2011.
Lionsgate and Summit deal cost 412,5 million USD, which will for sure be recouped when the last part of Twilight Saga hits theaters this November. Other upcoming big movies from new combined studio will be The Hunger Games, The Expendables 2, Dredd, Silent Hill: Revelation 3D, Step Up 4.
via Bloomberg, ScreenDaily