Movies
Breaking: Lionsgate Buys Summit for $412.5 million
Variety broke the news first that Summit Entertainment and Lionsgate have agreed to walk down the aisle, combining the town’s leading minimajors in a cash and stock deal worth $412.5 million. The tentative deal, which has been expected to close for the past week, was announced at the close of the market Friday.
The mini-majors have been negotiating exclusively with each other in recent weeks as execs sorted through the complexity of the transaction.
The merged entity would have more firepower in a market where the majors have scaled back on mid-budget films in favor of tentpoles and franchises — creating an opportunity for sizable indies to fill that gap. The union brings the “Twilight” franchise under the same roof as “The Hunger Games,” which Lionsgate is banking on to revitalize its film slate. The last of the “Twilight” pics, “The Twilight Saga: Breaking Dawn — Part 2,” due to open Nov. 16, is likely to take in as much as $1 billion at the worldwide box office.
The first installment of what Lionsgate hopes will be a franchise based on the popular book series, “Hunger Games” opens March 23. The trailer for the pic got a boost with its target aud in running with Summit’s “Twilight Saga: Breaking Dawn — Part 1,” which did boffo business following its Nov. 20 domestic bow.
Summit’s strategy has been to release and distribute 10-12 films per year, with a focus on the midrange films that the majors are less likely to greenlight. Aside from “Twilight,” Summit’s bread and butter has continues to be broad-based fare at moderate prices with recognizable stars such as “Red,” “Source Code” and a pair of thrillers now in post-production: “Man on a Ledge” with Sam Worthington and “Cold Light of Day” with Henry Cavill, Sigourney Weaver and Bruce Willis. Upcoming pics include dance pic “Step up 4” and vampire romancer “Warm Bodies.”
Besides the fourth “Twilight,” “Source Code” and ‘The Beaver,” Summit’s 2011 release slate included “The Darkest Hour”, “50/50” and Chris Weitz’ drama about Mexican immigrants in Los Angeles, “A Better Life.”
A red sequel has been dated for next year but Summit hasn’t locked down a director. Summit’s also been attempting to launch a “Highlander” reboot. .”
Summit also scored a bit of a stunner two years ago with Oscar-winner “The Hurt Locker” — the lowest grosser of any Oscar Best Picture winner.
Unlike Summit, Lionsgate also has a sizable TV production-distribution operation that is home to series including AMC’s “Mad Men,” Showtime’s “Weeds” and “Nurse Jackie,” “Boss” on Starz and the upcoming Charlie Sheen sitcom “Anger Management” on FX. Its Debmar-Mercury syndication operation includes “Tyler Perry’s House of Payne” and “The Wendy Williams Show.”
Movies
’28 Years Later’ – Ralph Fiennes, Jodie Comer, and Aaron Taylor-Johnson Join Long Awaited Sequel
Danny Boyle and Alex Garland (Annihilation, Men), the director and writer behind 2002’s hit horror film 28 Days Later, are reteaming for the long-awaited sequel, 28 Years Later. THR reports that the sequel has cast Jodie Comer (Alone in the Dark, “Killing Eve”), Aaron Taylor-Johnson (Kraven the Hunter), and Ralph Fiennes (The Menu).
The plan is for Garland to write 28 Years Later and Boyle to direct, with Garland also planning on writing at least one more sequel to the franchise – director Nia DaCosta is currently in talks to helm the second installment.
No word on plot details as of this time, or who Comer, Taylor-Johnson, and Fiennes may play.
28 Days Later received a follow up in 2007 with 28 Weeks Later, which was executive produced by Boyle and Garland but directed by Juan Carlos Fresnadillo. Now, the pair hope to launch a new trilogy with 28 Years Later. The plan is for Garland to write all three entries, with Boyle helming the first installment.
Boyle and Garland will also produce alongside original producer Andrew Macdonald and Peter Rice, the former head of Fox Searchlight Pictures, the division of one-time studio Twentieth Century Fox that originally backed the British-made movie and its sequel.
The original film starred Cillian Murphy “as a man who wakes up from a coma after a bicycle accident to find England now a desolate, post-apocalyptic collapse, thanks to a virus that turned its victims into raging killers. The man then navigates the landscape, meeting a survivor played by Naomie Harris and a maniacal army major, played by Christopher Eccleston.”
Cillian Murphy (Oppenheimer) is on board as executive producer, though the actor isn’t set to appear in the film…yet.
Talks of a third installment in the franchise have been coming and going for the last several years now – at one point, it was going to be titled 28 Months Later – but it looks like this one is finally getting off the ground here in 2024 thanks to this casting news. Stay tuned for more updates soon!
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