Lionsgate And Summit Entertainment Begin Merger Negotiations
As I'm sure many of you are aware, there are big studios in Hollywood and there are small studios. The major ones, like Warner Bros., Paramount, Universal, Disney, Sony, and 20th Century Fox, are responsible for just about every major wide release that hits theaters every year, while the smaller companies, like FilmDistrict, Millennium Entertainment, and Magnolia handle smaller films and independent releases. Now, however, there's talk of two medium-small studios merging and, if true, it could be a huge deal.
The Wrap has learned that Lionsgate and Summit Entertainment have begun discussions that would combine the two independent studios into one company. While both studios largely deal in more modestly-budgeted films, both have had incredible success with franchises such as Saw and Twilight (Lionsgate is also about to release The Hunger Games, which is expected to be the first of a whole new series). What's more, they may not be the only companies involved: according to the site, other studios, who aren't named, are also considering joining in the merger. It should be noted that this isn't the first time that the two sides have considered joining forces, but previous attempts have fallen apart due to price issues and Summit chief Rob Friedman's unwillingness to serve below Lionsgate CEO Jon Feltheimer. When reached for comment both studios declined.
Not only could this be absolutely huge, but it makes a ton of sense. Outside of their respective franchises Lionsgate and Summit films typically don't perform exceptionally, but pooling their resources could change the game completely. Should they become one company they would easily be competing with the major studios mentioned above and alter the industry. Obviously this is far from a done deal and could take years with all of the details that need to be sorted out, but allow me to take one problem off the table - The Lionsgate Summit sounds like a pretty badass company name.
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