Summit Entertainment

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Summit Entertainment, LLC
Company typeIn-name only subsidiary of Lionsgate Films
Industry Film
FoundedJuly 26, 1991;34 years ago (1991-07-26)
Founders Bernd Eichinger
Arnon Milchan
Andrew G. Vajna
Headquarters Burbank, California (1991–2007)
Universal City, California (2007–12)
Santa Monica, California (2012–present)
Key people
 Patrick Wachsberger
Bob Hayward
Products Motion pictures
Services Film distribution (previous)
Film production (current)
Parent Lionsgate Films (2012–present)
Divisions Summit Records
Summit Premiere
Subsidiaries International Distribution Company, LLC
(joint venture with Pedro Rodriguez)

Summit Entertainment, LLC (formerly the Summit Group, Summit Export Group, Summit Entertainment Group Inc., Summit Entertainment Limited, Summit Films Limited, and Summit Entertainment N.V.) is an American film production label of Lionsgate Films, owned by Lionsgate Studios and is headquartered in Santa Monica, California. It was founded on July 26, 1991. [1]

Contents

History

Independent era (1991–2012)

The company's original logo, used from 1996 to 2007 Summit Entertainment.jpg
The company's original logo, used from 1996 to 2007

Summit Entertainment was founded in 1991 as the Summit Group [2] by film producers Bernd Eichinger (Constantin Film), Arnon Milchan (Regency Enterprises), and Andrew G. Vajna (Carolco Pictures and Cinergi Pictures) to handle film sales in foreign countries. [2] Summit officially launched in 1993 by David Garrett, Patrick Wachsberger, and Bob Hayward 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, as well as striking international deals with companies like Mandalay Pictures, Artisan Entertainment and Franchise Pictures. [2]

Among the company's early successes were American Pie , Donnie Brasco , Fear and Loathing in Las Vegas , Memento , Requiem For A Dream , Die Hard With A Vengeance , The Blair Witch Project , and Lock, Stock and Two Smoking Barrels . [2] In 1998, Summit acquired worldwide distribution rights to the entire filmography of Wim Wenders, including the then-upcoming Buena Vista Social Club , from Road Movies Filmproduktion; the deal however excluded The End of Violence , retained by Metro-Goldwyn-Mayer and Ciby 2000. [3]

In 2006, it became an independent film studio with over a billion dollars in financing backed by Merrill Lynch. [4] Starting in 2007, Summit Entertainment's home video division was distributed by Universal Studios Home Entertainment. [5]

In November 2008, Summit found massive success 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. [6] 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. Collectively, the franchise grossed $3.3 billion globally.

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 . [7] In 2009, Summit ranked 7th among studios with a gross of $482.5 million. [8]

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); Mr. & Mrs. Smith ($186,330,000 US box office); The Hurt Locker ($16,400,000 US box office; it garnered Summit its first Best Picture Oscar); La La Land ($151,100,000 US box office); Step Up Franchise ($651,000,00 Global box office); Now You See Me ($117,700,000 US box office); the low-budget Push ($31,811,527 US box office); Deepwater Horizon ($61,400,000 US box office); 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); Vanilla Sky ($100,618344 US box office); and most recently the popular John Wick Franchise ($1,011,000,000 grossed globally across the four films).

Lionsgate era (2012–present)

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, [9] but two days later, these merger negotiations broke down due to concerns over changing content. [10] On January 13, 2012, Lionsgate officially acquired Summit Entertainment for $412.5 million. [11] Lionsgate continues to operate Summit Entertainment as a label.

Filmography

See also

References

  1. ↑ "Summit Entertainment LLC", BusinessWeek. Retrieved November 24, 2008.
  2. 1 2 3 4 Molloy, Claire (2010), p. 16. Memento . ISBN   978-0-7486-3771-3. Edinburgh University Press. Retrieved November 14, 2010.
  3. ↑ Carver, Benedict (September 28, 1998). "Summit nabs Wenders pix". Variety . Retrieved October 20, 2024.
  4. ↑ Barnes, Brooks, For Studio, Vampire Movie Is a Cinderella Story , New York Times, November 19, 2009. Retrieved November 24, 2008.
  5. ↑ McNary, Dave (May 18, 2007). "Summit, Universal make distrib pact". Variety. Retrieved November 9, 2021.
  6. ↑ TOP OPENING GROSSES BY DAYS IN RELEASE , Box Office Mojo, March, 2016.
  7. ↑ "2008 Studio Market Share". Box Office Mojo . Retrieved December 30, 2011.
  8. ↑ "2009 Studio Market Share". Box Office Mojo . Retrieved December 20, 2011.
  9. ↑ Waxman, Sharon, Lionsgate May Buy Summit , The Wrap, February 1, 2009. Retrieved August 22, 2010.
  10. ↑ Spelling, Nicole, "'Twilight' studio Summit unlikely to merge with Lionsgate", The Hollywood Insider, February 3, 2009. Retrieved August 22, 2010.
  11. ↑ "It's Official: Lionsgate Has Acquired Summit Entertainment for $412.5 Million", ComingSoon.net, January 13, 2012. Retrieved January 13, 2012.
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