Acquisition, Movie Studio | featured news

Bringing Hollywood's two biggest independent film studios and the blockbuster young adult franchises "Twilight" and "The Hunger Games" into one powerful entity, Lions Gate Entertainment has agreed to acquire Summit Entertainment for $412.5 million in cash and stock.

Lions Gate Entertainment is close to an agreement to acquire Summit Entertainment, the studio behind the "Twilight" movies, in a deal expected to close as early as this week, according to people familiar with the matter.

Walt Disney Co.'s $660 million sale of Miramax Films to a group of investors closed Friday, finally ending the drama in which the entertainment giant struggled to find a buyer for the art-house studio.

The Walt Disney Company said Friday it has agreed to sell Miramax Films for around $660 million to an investor group.