Summit Lays Off Three Execs as Lionsgate Merger Continues
Summit Entertainment has let go domestic TV distribution president Alex Fragen, home entertainment president Steve Nickerson and home entertainment sales exec Bobby Gerber as it moves forward with its integration into Lionsgate.
Lionsgate purchased Summit in January for $412.5 million. More layoffs are expected as the two companies decide how to structure their combined executive ranks.
A Lionsgate spokesman would only say, "The integration of Lionsgate and Summit is ongoing. We're not going to comment on specific individuals until our key management team is fully in place."
On Feb. 9, Lionsgate announced that Summit’s Erik Feig would take over physical production as motion picture group president from Lionsgate co-COO Joe Drake, who will depart after the release of The Hunger Games in late March.