Sale includes mixture of cash and stock

Summit Co-Chairmen Rob Friedman and Patrick Wachsberger would oversee film operations

Theatrical revenues are up and studios such as Summit, Relativity and Lionsgate are cleverly exploiting VOD and digital streaming

Other suitors may be in the mix to merge with Summit, on the heels of its latest 'Twilight' success

Summit's vampire franchise performs as big as expected, while Warners' "Happy Feet Two" stumbles to $22.3M

Three-year deal includes films such as "Now You See Me" with Jesse Eisenberg and the remake of "Highlander"

Actress accuses studio of sweeping movie "under the rug" in favor of popular "Twilight" series

The movie stars Hugh Laurie, Catherine Keener, Oliver Platt, Alison Janney, Alia Shawkat, Adam Brody and Leighton Meester

Model Ryan Guzman and "So You Think You Can Dance's" Kathryn McCormick will star in the series' fourth picture

British publications also apologize after calling the film financier an "imposter"

John Fithian says studio's early release plan respects windows; Jon Favreau and Quentin Tarantino also oppose move

New five-year exclusive output deal covers films released theatrically by the mini-major from 2013-17