Summit Entertainment
| Company type | Subsidiary |
|---|---|
| Industry | Film production |
| Founded | 1991 |
| Founder | Bernd Eichinger, Arnon Milchan, Andrew G. Vajna |
| Headquarters | Santa Monica, California , United States |
Key people | David Garrett, Patrick Wachsberger, Bob Hayward |
| Parent | Lionsgate Films |
Summit Entertainment, LLC—previously known by names including the Summit Group—is a film production brand based in the United States and functions as a division of Lionsgate Films. Its headquarters are located in Santa Monica, California, and it operates under the ownership of Lionsgate Studios.
Independent period (1991–2012)
Established in 1991 by producers Bernd Eichinger, Arnon Milchan, and Andrew G. Vajna to oversee international film sales, Summit Entertainment officially commenced operations in 1993 with David Garrett, Patrick Wachsberger, and Bob Hayward at the helm as a distribution and sales organization. By 1995, the company had broadened its scope to include film production and co-financing, moving to fully fund projects by 1997. One of its early achievements was handling international distribution for American Pie outside English-speaking territories. In 1998, Summit secured global distribution rights for the works of Wim Wenders.
In 2006, Summit transitioned into an independent studio supported by more than one billion dollars in funding from Merrill Lynch. Starting in 2007, its home video releases were distributed through Universal Studios Home Entertainment.
Following a series of modestly performing films like P2, Never Back Down, and Sex Drive, Summit experienced a substantial surge in success with the release of Twilight in November 2008, which earned $408.7 million worldwide. The momentum continued with Knowing in 2009, debuting at number one and generating $182.5 million globally.
Summit's concentrated efforts on the Twilight series significantly increased its market presence: The Twilight Saga: New Moon (2009) set new opening weekend records with $142.8 million, while The Twilight Saga: Eclipse (2010) established new benchmarks for midnight screenings and single-day earnings, exceeding $300 million domestically.
In 2008, Summit ranked eighth among studios with $226.5 million in revenue, largely driven by the Twilight franchise. By 2009, it advanced to seventh place with $482.5 million.
Other prominent titles released by Summit include Ender's Game (2013), the critically acclaimed The Hurt Locker—which secured Summit's first Best Picture Academy Award—animated film Astro Boy, teen horror Sorority Row, and the sleeper hit RED, which received a Golden Globe nomination for Best Motion Picture – Comedy or Musical.
Summit's approach to business centers on acquiring strategic rights and developing franchises to sustain a competitive edge within the international film sector. Executives like Patrick Wachsberger have played vital roles in advancing growth through focused investments and collaborations.
Lionsgate period (2012–present)
On January 13, 2012, Lionsgate completed its acquisition of Summit Entertainment for $412.5 million, incorporating Summit’s film catalog along with the profitable Twilight series into its holdings. Although earlier merger discussions in 2009 were unsuccessful due to concerns over content compatibility, this acquisition enhanced Lionsgate’s market position and broadened its global reach. Summit continues to function as a label within Lionsgate, contributing to the company’s expansion and diversification of offerings.