Colony Capital Said in Talks for Stake in Summit Entertainment

Colony Capital LLC, owner of the Miramax film library, is in talks to acquire a stake in Summit Entertainment LLC, maker of the “Twilight” vampire movies, two people with knowledge of the situation said.

Colony, the private-equity firm led by Tom Barrack, initially sought the stake in Summit held by hedge fund Rizvi Traverse Management LLC and others, said one of the people, who declined to speak publicly because the talks are preliminary. The parties are also discussing combining Summit and Miramax, leaving Summit management in charge, the people said.