Lionsgate Buying Summit
According to the NY Times, Lionsgate Entertainment, the movie studio best-known for the disgusting Saw horror franchise, will be buying Summit Entertainment, responsible for the Twilight films.
Wikipedia calls Lionsgate “the most commercially successful independent film and television distribution company in North America.” Their slate has included American Psycho, Dogma, Fahrenheit 9/11, the comic book movies Kick-Ass, Punisher: War Zone, and The Spirit, the Conan the Barbarian remake, and the upcoming Hunger Games film adaptation.
Summit’s other releases have included The Hurt Locker, Letters to Juliet, and Red. The deal price is over $400 million in cash and stock. They hope to “create a Hollywood powerhouse focused on young adult audiences”, so expect to hear more from them in the future.