The LA Times reports:
"Summit Entertainment, the independent studio behind the "Twilight" movies, is seeking to recapitalize by raising $800 million of new debt that will be used in part to pay its first large dividend to investors.
The new financing will also help pay down debt and fund ongoing operations and future productions, as well as give the company more flexibility to make acquisitions. Issuing new debt in the current climate will allow the studio to recapitalize on more favorable terms than when it originally raised funds in 2007, people close to the matter said. "
Read the rest of the article over at latimes.com
~Robstenfan
Friday, January 21, 2011
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