Jan 13 ? Lions Gate Entertainment Corp bought private studio Summit Entertainment, which produced the successful "Twilight" series, for $412.5 million in cash and stock.
Reuters had last week reported that Lions Gate was nearing a deal to acquire the "The Hurt Locker" producer.
The combined company will work on consolidating administrative and other costs, Lions Gate and Summit said in a joint statement.
The deal, which will add 13,000 titles to Lions Gate's library, includes $50 million of its common stock.
JP Morgan, Barclays Capital and Jefferies served as financial advisors for Lions Gate, the studio behind film and television hits such as "Mad Men" and "Precious".
Shares of the company closed at $8.60 on Friday on the New York Stock Exchange.
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das)
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