“Lionsgate, Summit and the entire Twilight community are saddened by the death of a Comic-Con fan today due to a traffic accident during the hours leading up to this year’s convention in San Diego. Our thoughts and condolences go out to the victim’s family and friends. She will be respectfully remembered this Thursday in Hall H.”
For those who didn’t hear the very sad news, you can click here for more information on what happened. Also Twilight Examiner has been doing updates.
Good news everyone! There’s a chance that we could be seeing more Twilight Saga films following the release of Breaking Dawn Part 2 says the studio’s Chief!
There’s a chance The Twilight Saga could continue after the fifth film opens in November.
The bombshell was reportedly dropped by Jon Feltheimer, the chief executive officer of Lionsgate Entertainment, which acquired Twilight studio Summit Entertainment for $412.5 million on Friday.
“I’m anticipating Breaking Dawn – Part 2 being $700 million-plus in worldwide box office,” said Feltheimer of the final (planned) installment in the hit vampire franchise.
According to the Los Angeles Times, when asked whether Lionsgate could envision more Twilight past next fall’s fifth film, Feltheimer left the door open.
“It’s hard for me to imagine a movie that does $700 million-plus doesn’t have ongoing value,” he said. “It’s an amazing franchise that they have done a great job of maintaining with absolutely no deterioration.”
He added, “So the simple answer is, ‘Boy, I hope so.’”
It’s not clear whether a potential continuation would involve future films or a television series.
Would you want to see post-Breaking Dawn projects for Twilight?
Lionsgate has purchased Summit for $412.5 million, the companies announced on Friday.
The two independent studios have been circling each other for months. The deal is being structured as a leveraged buyout, in the form of cash and stock.
“We are uniting two powerful entertainment brands, bringing together two world-class feature film franchises to establish a commanding position in the young adult market, strengthening our global distribution infrastructure and creating a scalable platform that will result in significant and accretive financial benefits to Lionsgate shareholders,” Lionsgate Co-Chairman and Chief Executive Officer Jon Feltheimer and Vice Chairman Michael Burns said in a statement.
Summit brings with it debt, but that will be paid off with profits from the final two “Twilight” movies, allowing Lionsgate to keep that sum off its own books.
The debt that Summit took on last spring, has been refinanced into a new $500 million loan, which will be paid off by 2016. Lionsgate said it anticipates retiring the debt before that date.
The deal places a question mark over the future of production chief Joe Drake. It also means one less buyer in an already reduced indie landscape — and layoffs at the two companies.
Lionsgate will get a modest library of titles that also includes “The Hurt Locker” and “R.E.D.,” which it can add to its paid TV network Epix. Perhaps more important, Lionsgate will gain Summit’s expertise in international distribution — an area where it is lacking.
However, insiders at both studios feel that Summit’s experience in transforming the vampire “Twilight” series into a global box office phenomenon can help Lionsgate pull off a similar feat with “The Hunger Games.” This could help turn the studio, a launching pad for mid-budget genre films, into a lekking ground for young adult film franchises.