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Lionsgate is Close to Clinching Summit Deal

Chris Savage No Comments

Lionsgate is Close to Clinching Summit DealIt appears as if the long-fought Lionsgate purchase of Summit Entertainment is almost a locked and loaded affair, but at what cost?

According to Deadline, the deal is somewhere in the region of $700 million consisting of $400M in equity and an assumption of $300M loan by JP Morgan to Lionsgate.

But, having one less studio also means having one less buyer and that doesn’t sound too good. According to the site, “Lionsgate toppers Jon Feltheimer and Michael Burns have no interest in continuing to let Summit make movies.”

While there have been a few rough days with Summit chiefs Patrick Wachsberger and Rob Friedman, it now appears as if they will work within the Lionsgate structure, but for how long?

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