Summit Int'l, TMG pact
EmptySummit International and German giant Tele Munchen Group have signed a three-year output deal for all rights in Germany and Austria as well as television rights in German-speaking Switzerland through 2010.
The deal was jointly announced by Summit International CEO Patrick Wachsberger, Summit Entertainment COO Bob Hayward and TMG managing director Herbert Kloiber.
The deal kicks off with "Twilight" and "Sex Drive" and will include movies produced, co-produced and/or acquired by Summit during the output term.
TMG's wholly owned affiliate, Concorde, led by Markus Zimmer (Concorde Filmverleih) and Michael Ivert (Concorde Home Entertainment), will handle theatrical and video distribution of the output films.
Free- and paid TV rights will be handled by TMG directly.
Said Wachsberger and Hayward: "Tele Munchen is the ideal partner for Summit, with a first-class distribution organization and a strong television and exhibition operation. They are a great home for our product."
Added Kloiber: "The current WGA strike and the expected SAG strike won't make things any easier for Summit in their first year out as a U.S. distributor, but long-term we have high hopes for the slate that Patrick, Bob and Rob Friedman are building, along with talented young executives like Erik Feig. We have no doubt that Summit will be a major U.S. studio in a few years time."
Thomas Augsberger, TMG's exclusive U.S. representative, and Summit's Wachsberger and Hayward negotiated the deal terms for the parties.