Wall Street Likes Lionsgate Deal

January 9 – Variety
By Dave McNary

Wall Street's initial reaction to a possible Lionsgate acquisition of Summit Entertainment was positive Monday, with shares rising 3% Monday.

Though the mini-majors have not confirmed that merger talks have progressed, Lionsgate emerged over the weekend as the more likely buyer in a deal for about $400 million in cash and stock along with assumption of a significant part of Summit's debt. Miramax owner Colony Capital also has a bid in for Summit.

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