Summit Entertainment
![]() Logo used since 2018 | |
Company type | Subsidiary |
---|---|
Industry | Motion pictures |
Founded | July 26, 1991 |
Founders | Bernd Eichinger Arnon Milchan Andrew G. Vajna |
Headquarters | Universal City, California (2007–2012) Santa Monica, California (2012–present) |
Key people | Patrick Wachsberger Bob Hayward |
Products | Motion pictures |
Services | Film Distribution Film Production |
Parent | Lionsgate Films (2012–present) |
Divisions | Summit Records Summit Premiere |
Subsidiaries | International Distribution Company, LLC (joint venture with Pedro Rodriguez) |
Summit Entertainment, LLC is an American film production label of Lionsgate Films, owned by Lionsgate Studios and is headquartered in Santa Monica, California.[1]
History
[edit]Independent era (1991–2012)
[edit]![](http://upload.wikimedia.org/wikipedia/commons/thumb/3/3e/Summit_Entertainment.jpg/200px-Summit_Entertainment.jpg)
Summit Entertainment was founded in 1991[2] by film producers Bernd Eichinger, Arnon Milchan, and Andrew G. Vajna (Carolco Pictures and Cinergi) to handle film sales in foreign countries.[2] Summit officially launched in 1993 by Patrick Wachsberger, Bob Hayward, and David Garrett under the name Summit Entertainment LP as a distribution and sales organization. By 1995 they were producing and co-financing films, and by 1997 they started fully financing films.[2] Among the company's early successes was American Pie, which Summit distributed outside of English-speaking territories.[2] In 2006, it became an independent film studio with over a billion dollars in financing backed by Merrill Lynch.[3]
Starting in 2007, Summit Entertainment's home video division was distributed by Universal Studios Home Entertainment.[4]
After a string of flops including P2, Never Back Down and Sex Drive, Summit found success in November 2008 with the release of Twilight, a teen romance about vampires based on the best-selling book of the same name by Stephenie Meyer that made $408,773,703 worldwide. In the spring of 2009, Summit released Knowing, the company's second movie to open #1 at the box office and made $182,492,056 worldwide.
In November 2009, Summit released the sequel to Twilight titled The Twilight Saga: New Moon, also based on the popular novel by Stephenie Meyer, breaking box office records for first weekend grosses at the time, taking in $142,839,137 in the first three days.[5] In June 2010 Summit released the third film of the Twilight series, The Twilight Saga: Eclipse. It broke a midnight screening record of over $30 million and set a one-day Wednesday record of $68.5 million. It became the first movie in the series to cross the $300 million mark domestically.
In 2008, Summit Entertainment ranked in eighth place among the studios, with a gross of $226.5 million, almost entirely because of the release of Twilight.[6] In 2009, Summit ranked 7th among studios with a gross of $482.5 million.[7]
Other Summit Entertainment releases include: Ender's Game (released November 1, 2013 in the United States; an adaptation of Orson Scott Card's 1985 novel); Next Day Air ($10,027,047 US box office); The Hurt Locker ($16,400,000 US box office; it garnered Summit its first Best Picture Oscar); the animated Astro Boy; teen horror film Sorority Row ($11,965,282 US box office); the low-budget Push ($31,811,527 US box office); Bandslam ($5,210,988 US box office); Letters to Juliet ($53,032,453 US box office); and, the sleeper hit, RED ($87,940,198 US box office; nominated for a 2010 Golden Globe in the Best Motion Picture – Comedy or Musical category).
Lionsgate era (2012–present)
[edit]On February 1, 2009, it was announced that Lionsgate would acquire Summit Entertainment, along with its library of six films and rights to the Twilight franchise,[8] but two days later, these merger negotiations broke down due to concerns over changing content.[9] On January 13, 2012, Lionsgate officially acquired Summit Entertainment for $412.5 million.[10] Lionsgate continues to operate Summit Entertainment as a label.
See also
[edit]References
[edit]- ^ "Summit Entertainment LLC", BusinessWeek. Retrieved November 24, 2008.
- ^ a b c d Molloy, Claire (2010), p. 16. Memento. ISBN 978-0-7486-3771-3. Edinburgh University Press. Retrieved November 14, 2010.
- ^ Barnes, Brooks, For Studio, Vampire Movie Is a Cinderella Story, New York Times, November 19, 2009. Retrieved November 24, 2008.
- ^ McNary, Dave (May 18, 2007). "Summit, Universal make distrib pact". Variety. Retrieved November 9, 2021.
- ^ TOP OPENING GROSSES BY DAYS IN RELEASE, Box Office Mojo, March, 2016.
- ^ "2008 Studio Market Share". Box Office Mojo. Retrieved December 30, 2011.
- ^ "2009 Studio Market Share". Box Office Mojo. Retrieved December 20, 2011.
- ^ Waxman, Sharon, Lionsgate May Buy Summit, The Wrap, February 1, 2009. Retrieved August 22, 2010.
- ^ Spelling, Nicole, "'Twilight' studio Summit unlikely to merge with Lionsgate", The Hollywood Insider, February 3, 2009. Retrieved August 22, 2010.
- ^ "It's Official: Lionsgate Has Acquired Summit Entertainment for $412.5 Million", ComingSoon.net, January 13, 2012. Retrieved January 13, 2012.
External links
[edit]- Official website (Now redirects to Lionsgate's website)
- 1991 establishments in California
- 2012 mergers and acquisitions
- American companies established in 1991
- American independent film studios
- Companies based in Santa Monica, California
- Entertainment companies established in 1991
- Film distributors of the United States
- Film production companies of the United States
- Home video companies of the United States
- Lionsgate Studios
- International sales agents
- Bernd Eichinger