Lay offs at Summit begin: 3 executives out

Within the wake of their acquisition by Lionsgate, Summit Entertainment started lay offs early now, as mind of TV distribution Alex Fragen, home theatre mind Steve Nickerson and Bobby Gerber, EVP home theatre sales, are on its way out, Variety is familiar with. The trio of executives got this news midday Monday, sources near to the organization stated. These were likely to remain with the organization until early the following month. Fragen, Nickerson and Gerber all began with Summit in 2007, just like the organization was finding its footing like a full service production and distribution studio. The lay offs were only the to begin several expected as Lionsgate starts to integrate its procedures with Summit, that the small-major acquired inside a The month of january cash-and-stock deal amassing $412.5 million. Lionsgate co-chairman and Boss Jon Feltheimer acknowledged at that time that overlap would cause lay offs. Per month later, Summit co-founder and leader of worldwide David Garrett started planning his exit, as Variety first reported February. 12. Lionsgate wouldn't read the lay offs Monday. "The integration of Lionsgate and Summit is ongoing," a studio spokesperson stated. "We are not likely to discuss specific people until our key management team is fully in position.Inch Fragen, who had been well-loved at Summit and was accountable for its lucrative cope with Cinemax, was named leader of domestic television distribution soon after Summit relaunched itself in 2007. He was accountable for managing distribution free of charge and pay TV, video-on-demand, pay-per-view, and hotel and air travel sales. His responsibilities would on the face transfer to Jim Packer, Lionsgate's prexy of worldwide TV distribution and digital. Nickerson, someone electronics and homevid vet, also came on in those days, and was assigned 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 during the time of his hire, including senior Vice president of worldwide high-definition media. The majority of Summit's homevideo releases are written by Fox, an offer that's prone to sunset as Lionsgate's robust home video arm gets control Summit game titles. More shakeups and lay offs were expected in the recently merged companies. The departure of Garrett - a powerful and far beloved foreign-sales maven resides in London - leaves a significant hole to fill for Lionsgate, which specific Summit simply on the effectiveness of its overseas sales division. Contact the range newsroom at news@variety.com