Lions Gate, Summit Discuss Merger In Early Talks

By: AP
By: AP
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LOS ANGELES (AP) -- Two Hollywood studios that vy for a similar teen audience are talking about merging.

That's according to a person familiar with the matter who was not authorized to speak about it publicly.

The person said Lions Gate Entertainment Corp. and Summit Entertainment LLC, both based in Santa Monica, Calif., restarted discussions following the success of Summit's fourth "Twilight" movie. "The Twilight Saga: Breaking Dawn" has grossed nearly half a billion dollars worldwide since its release November 18. Privately held Summit has one more "Twilight" movie in the works.

Lions Gate is banking on its own hit with "The Hunger Games," due out in March. It's based on the young adult novels by Suzanne Collins.

Bloomberg News earlier reported on the talks.

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