The agreement covers co-financing, international sales and a rent-a-system deal encompassing domestic and international theatrical, home entertainment and pay TV. The companies will combine their marketing prowess on releases.
Plans call for as many as four films per year to be distributed through Summit and will include films funded under Participant's $250m financing deal with imagenation Abu Dhabi, which launched last September.
'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,' Participant Media CEO Jim Berk said. 'We look forward to expanding our relationship with Summit beyond distribution of our films to include both co-development and film acquisitions.'
'Participant Media, with its unique combination of entertainment and social action, is one of the most respected independent film companies doing business today,' Summit Entertainment co-chairmen Rob Friedman and Patrick Wachsberger added.
'As we look to further fill our pipeline of filmed entertainment product, Participant promises to be a great partner with a talented team of executives generating an exciting slate of films. This relationship fulfils an important piece of our business plan.'
Participant Media's upcoming releases include Food, Inc and The Soloist. Previous credits include An Inconvenient Truth, Syriana, The Kite Runner, Charlie Wilson's War and The Visitor.