A multi-picture, multi-year non-exclusive distribution agreement has been agreed between Summit Entertainment and Participant Media in a pact that could include up to four films per year through 2013, the companies announced Wednesday. The deal calls for Summit to distribute Participant's feature films, and includes co-financing, international sales and rent-a-system arrangements, with both domestic and worldwide responsibilities for Summit.
The deal between Summit and Participant, which produces films that "inspire and compel social change," covers domestic and international theatrical, home entertainment and pay TV distribution, and will include films funded under Participant's $250 million financing deal with imagenation Abu Dhabi, which commenced in September, 2008.
Summit will also co-finance select titles with Participant, which will be distributed under the new agreement. Participant's marketing team will work in concert with Summit's marketing group to bring its product to the marketplace.
"A core strategy for Participant is to secure a guaranteed path to the marketplace for our films, and this partnership with Summit Entertainment provides a long term association with a proven distributor for whom we have a great respect," commented Jim Berk, CEO Participant Media in a statement. "We look forward to expanding our relationship with Summit beyond distribution of our films to include both co-development and film acquisitions."