Friedman, Wachsberger form studio

April 20, 2007 Armed with more than $1 billion in funding from Merrill Lynch and other investors, former Paramount Pictures COO Rob Friedman and Summit Entertainment president and CEO Patrick Wachsberger are launching a new Summit Entertainment Llc., a studio set to produce, acquire, market and domestically distribute films. The company has absorbed the production, distribution and international sales outfit of the same name and will continue to function as a sales agent for its own films and outside projects through its new arm, Summit International. Heading the company's executive team are three Summit veterans: COO Robert Hayward, production and acquisitions president Erik Feig and senior executive vp David Garrett, who will serve as president of Summit International.

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