Lions Gate To Buy Summit For $200 Million
Two independent studios, usually overmatched by their larger brethren in terms of production budgets and marketing, will combine. Lions Gate Entertainment will buy Summit Entertainment, distributor of the popular “Twightlight” films. According to The Wall Street Journal Under the terms being…
Two independent studios, usually overmatched by their larger brethren in terms of production budgets and marketing, will combine. Lions Gate Entertainment will buy Summit Entertainment, distributor of the popular “Twightlight” films.
According to The Wall Street Journal
Under the terms being discussed, Lions Gate would pay about $400 million for Summit’s equity, according to one of these people. Summit has about $300 million cash and $500 million in debt, not all of which would be assumed by Lions Gate,
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
