Lay offs at Summit begin: 3 professionals out

Inside the wake of the acquisition by Lionsgate, Summit Entertainment began lay offs early now, as mind of TV distribution Alex Fragen, home cinema mind Steve Nickerson and Bobby Gerber, EVP home cinema sales, are coming out, Variety knows. The trio of professionals got what is the news midday Monday, sources near the organization mentioned. They were prone to remain using the organization until early later. Fragen, Nickerson and Gerber all started with Summit in 2007, similar to the organization was finding its footing just like a full service production and distribution studio. The lay offs were just the to start several expected as Lionsgate begins to integrate its methods with Summit, the small-major acquired in the The month of the month of january cash-and-stock deal gathering $412.5 million. Lionsgate co-chairman and Boss Jon Feltheimer acknowledged in those days that overlap would cause lay offs. Monthly later, Summit co-founder and leader of worldwide David Garrett began planning his exit, as Variety first reported Feb. 12. Lionsgate wouldn't browse the lay offs Monday. "The integration of Lionsgate and Summit is ongoing," a studio representative mentioned. "We will not discuss specific people until our key management team is fully in place.In . Fragen, who was simply well-loved at Summit and was responsible for its lucrative deal with Cinemax, was named leader of domestic television distribution right after Summit relaunched itself in 2007. He was responsible for controlling distribution totally free and pay TV, video-on-demand, pay-per-view, and hotel and airline travel sales. His duties would evidently transfer to Jim Packer, Lionsgate's prexy of worldwide TV distribution and digital. Nickerson, someone electronics and homevid vet, also came on in individuals days, and was designated with creating Summit's homevid arm with Gerber, who labored with Nickerson at Toshiba and Warner Bros. Nickerson came off eight years at Warners homevid throughout time of his hire, including senior V . p . of worldwide high-definition media. Nearly all Summit's homevideo releases are compiled by Fox, a deal that's vulnerable to sunset as Lionsgate's robust home video arm will get control Summit game game titles. More shakeups and lay offs were expected within the lately merged companies. The departure of Garrett - a effective and beloved foreign-sales maven resides working in london - leaves a substantial hole to fill for Lionsgate, which specific Summit simply on the potency of its overseas sales division. Contact the number newsroom at news@variety.com