Miramax Owner Colony Eyes Deal With Summit Entertainment
NEW YORK - Colony Capital, the private equity owner of the Miramax library, is in preliminary talks to acquire a stake in Summit Entertainment, the studio behind the Twilight series, Bloomberg News reported, citing people with knowledge of the situation.
Colony, led by Tom Barrack, could buy a Summit stake currently owned by hedge fund Rizvi Traverse Management and others, it said.
The companies, however, are also discussing a possible combination of Summit and Miramax that could leave Summit management in charge, according to Bloomberg.
Lionsgate has also held talks about acquiring Summit.
A spokeswoman for Colony told Bloomberg that the company doesn’t comment on speculation or rumor. A spokeswoman for Summit declined to comment.