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A year after buying Miramax, Colony Capital has become a possible second bidder for Summit Entertainment along with Lionsgate.

Reps for Summit and Colony Capital declined to comment but people familiar with the situation said that Colony and Summit had been in talks about a possible deal in recent weeks.

News of the Lionsgate negotiations with Summit emerged earlier this week — although neither company has officially confirmed — with Lionsgate having engaged JP Morgan as an adviser.

Both deals would bolster Summit’s ability to operate as a minimajor in that both Lionsgate and Miramax possess significant libraries.

Colony completed a $663 million buyout of Miramax from Disney in December 2010. Since then, Miramax execs have combed through hundreds of boxes in a warehouse in Los Angeles containing the details of about 650 projects developed under the previous regime and reached a deal with Lionsgate and StudioCanal on worldwide distribution rights to more than 550 library titles.

Lionsgate has been active in exploring acquisitions while stressing that it won’t overpay. It’s had discussions with Summit about uniting going back as far as the fall of 2008, just before the bow of the first “Twilight” pic and had on-again, off-again talks about a merger with MGM as well.

Privately held Summit announced Tuesday that “The Twilight Saga: Breaking Dawn — Part 1” had hit $508 million in worldwide box office in its first 12 days. The final “Twilight” film will open Nov. 16.