International
Lions Gate snaps up Summit Ent for $412.5 mn
MUMBAI: In a move that unites two of Hollywood’s largest independent studio, Lions Gate Entertainment Corp. has acquired Summit Entertainment LLC for $412.5 million in cash and stock.
The agreement gives Lions Gate library rights to the first 14 vampire films in the Twilight series.
Said Lions Gate Vice Chairman Michael Burns in a statement, “We think it solidly positions us. It extends our reach dramatically. It increases the size of the library.”
While some believe that income from ticket sales, home videos and TV rights may generate as much as $1 billion in free cash flow all through this year, some others believe that the transaction is a net positive for all parties, but consolidation in the sector is reflective of the significant challenges in the industry.
Most of the purchase was funded with cash from Summit, Lions Gate said yesterday in a statement. The announced terms suggest Lions Gate used about $240 million in cash from Summit.
The balance was financed with $55 million of Lions Gate cash, $45 million from new Lions Gate convertible notes, $50 million of Lions Gate common stock and an added $20 million of cash or stock to be issued at Lions Gate’s option within 60 days, according to a statement.
Both film labels that operate from Santa Monica, California will remain active producers.
Details of the agreement are being worked out.
International
Russia-India cinematic spectacle Persimmon of My Love set for grand Moscow debut
Hindi cinema style musical revives Indo-Soviet cinema ties for today
MUMBAI: A new chapter in cross-border storytelling is set to unfold as Persimmon of My Love gears up for its premiere in Moscow on 1 April 2026, marking the first large-scale cinematic collaboration between Russia and India in decades.
Positioned as a modern nod to the cultural exchange that once brought Indian classics to Soviet audiences, the film blends Hindi cinema flair with Russian storytelling, aiming to rekindle a long-standing cinematic friendship.
Directed by Marius Weisberg, the musical comedy follows two brothers navigating a lively world of music, family and romance. The lead roles are played by Demis Karibidis and Mikhail Galustyan, with Karibidis also contributing as a screenwriter.
Shot entirely in India, the production leans heavily into Hindi cinema style spectacle. Filming took place across Mumbai studios and the cities of Udaipur and Jodhpur, whose architecture was used to create the fictional setting of Khurmada. A crew of over 350 worked on the project, with large-scale sequences featuring up to 1,000 extras.
The film also brings Indian creative talent into the mix. Dance sequences are choreographed by Jay Kumar, while music by Zurab Matua features songs in both Hindi and Russian, adding to its cross-cultural appeal.
Backed by TNT channel, MyWayStudio and the Russian Cinema Fund, the project reflects a broader push to strengthen cultural ties between the two countries.
With its mix of colour, comedy and cross-border collaboration, Persimmon of My Love is not just a film release but a reminder that cinema, much like music, travels well across borders.
