"Summit Entertainment's revenue more than quintupled from 2008 to 2010 based on the massive success of three "Twilight" movies, according to a regulatory filing by the studio's new parent company Lions Gate Entertainment.
As part of a presentation to potential lenders as part of its acquisition of Summit, which was previously a private company, Lions Gate disclosed Summit's financial results for the first time.
They show that from 2008, the year that the first "Twilight" movie was released theatrically, to 2010, Summit's revenue skyrocketed from $211.6 million to $1.15 billion. The Santa Monica-based studio also swung from an $85.3-million net loss in 2008 to a $352.2 million profit two years later."
Read the entire article at LA Times
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