‘Step Up,’ ‘Red’ May Be Turned into TV Shows, Lionsgate Says

The film franchises still have sequels scheduled to come out, but Lionsgate is looking for a way to leverage Summit's assets 

Lionsgate may create television shows based on the "Step Up" and "Red" films, the studio said Thursday. 

The two film franchises were acquired by the Vancouver-based company last January when it purchased Summit for more than $400 million. Though the "Twilight" series was billed as the biggest plum in the sale, Lionsgate is committed to leveraging the indie studio's other titles. 

Lionsgate CEO Jon Feltheimer did not provide any additional details about what form the potential shows may take or how far in the future they will be developed. However, publicly floating the move is somewhat unusual given that both franchises have yet to wrap up their theatrical runs. 

Also read: FX President on Charlie Sheen's 'Anger Management': We Like Risks

"Step Up" centers on youthful and attractive dancers and has inspired four films, but it still has life in it. The latest film in the series, "Step Up Revolution," hits theaters on July 27. 

Likewise, "Red," about a group of aging black-ops agents, has a sequel on tap. "Red 2" sees original stars Helen Mirren and Bruce Willis return, along with Catherine Zeta-Jones and possibly Anthony Hopkins. It opens on August 2, 2013.

Lionsgate already has a television show based on a popular movie set to debut. "Anger Management," featuring Charlie Sheen and inspired by the 2003 Adam Sandler film, begins its run on FX this June.