Summit Entertainment

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Summit Entertainment
legal form LLC
founding 1991
Seat Universal City
Branch Movie
As of January 13, 2013

The Summit Entertainment LLC (formerly Summit Entertainment LP ) is an American film studio based in Universal City , California and a subsidiary of Lions Gate Entertainment .

history

Summit was originally founded in 1991 by Bernd Eichinger , Arnon Milchan and Andrew G. Vajna to operate as a film distributor. In 1995, Summit expanded its business to include the production and co-financing of films. From 1997 films were also fully funded. Officially, Summit began in 1993 under the name Summit Entertainment LP as a film production, distribution and sales company, with Patrick Wachsberger, Bob Hayward and David Garrett as founders. A first success was the film American Pie - Like a Hot Apple Pie , which Summit sold outside of English-speaking territories.

Summit became a fully independent film studio in 2006 when Robert G. Friedman , a former executive of Paramount Pictures , took over the reins. A funding deal with Merrill Lynch and other investors gave the new company more than $ 1 billion to expand development, production, acquisition, marketing and sales.

After a series of flops such as P2 - Screams in the Parking Lot , Penelope and Joyride , Summit had a respectable success in November 2008 with the release of Twilight - Till Dawn , which grossed more than 400 million US dollars worldwide. In the spring of 2009, Knowing - The future ends now was published, which grossed around 180 million US dollars worldwide. In November of the same year, the sequel New Moon - Until (s) at noon was published, which is also based on the novel by Stephenie Meyer like Twilight . The film broke several box office records, grossing nearly $ 143 million in the United States in three days.

Other Summit-produced films include Obstacles Delivery and Deadly Command - The Hurt Locker , which earned Summit its first Academy Award for Best Picture in 2010 . Films like Letters to Julia and RED - Older, Harder, Better are also part of Summit productions. The latter was nominated for a Golden Globe Award in the category Best Film - Comedy / Musical in 2010 .

Takeover by Lions Gate Entertainment

In September 2008 the first takeover negotiations with Lions Gate Entertainment took place , but initially they did not achieve any result. Then, on January 13, 2012, Lions Gate acquired Summit Entertainment for $ 412.5 million in cash and stock.

Individual evidence

  1. ↑ a b Molloy, Claire: memento, p. 16. Edinburgh University Press , accessed January 13, 2013 .
  2. ↑ Barnes, Brooks: For Studio, Vampire Movie Is a Cinderella Story. November 28, 2008, accessed January 13, 2013 .
  3. ^ Barnes, Brooks: Summit Entertainment's $ 1 Billion Deal. April 19, 2007, accessed January 13, 2013 .
  4. ↑ It's Official: Lionsgate Has Acquired Summit Entertainment for $ 412.5 million. ComingSoon.net, January 13, 2012, accessed January 13, 2013 .

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