Lionsgate valued at 412.5 million dollars

Lionsgate valued at 412.5 million dollars

It seems like entertainment industry is facing major issues especially related to the financials because the major financial breakdown in Europe and American has declined the overall production in the Hollywood. People are reluctant to invest in movies because
they believe that most of the audience has been jobless due to major downsizing that occurred during the financial crunch can hence they will not go out to cinemas and watch movies. People are finding it difficult to earn for the bread and butter of their
life so it is impossible to believe that they will save some money for entertainment purposes.

The study Lionsgate announced today in a statement the purchase of Summit Entertainment, the other major independent company in Hollywood, for a total of 412.5 million dollars. In this way, under the same company meets two of the strongest franchises in
the industry: the established and successful "Twilight", the latest instalment, "Breaking Dawn: Part 2" will arrive in November, and the promising "Hunger Games "One of the most anticipated releases of the first quarter.

The saga "Twilight" has generated far more than 2,500 billion dollars in worldwide box office. The integration of Lionsgate Summit Entertainment, which includes both its domestic and the international branch will strengthen the capacity of production and
Distribution Company at the same time expand its global sales, says the company in the note.

"We combined two powerful brands and entertainment together two world-renowned franchises to establish a leadership position in the young adult market, strengthening our global distribution infrastructure," said Jon Feltheimer, co-owner of Lionsgate.

"We believe this combined entity will be even greater than the sum of its parts and improved our communication platforms will create tremendous opportunities for all of us at the Summit and Lionsgate families," said Rob Friedman, co-owner of Summit.

Short URL: https://www.newspakistan.pk/?p=9793

Posted by Fahad Zafar on Jan 19 2012. Filed under Entertainment. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry