'The Perks Of Being A Wallflower' May Be Produced By Summit Entertainment: 5 Reasons That's Great News

Summit Entertainment has earned a reputation for larger-than-life YA novel adaptations thanks to their "Twilight Saga" franchise, and now the studio has its sights set on another beloved teen read.

If you were born after 1986 (or are just a red-blooded YA buff like the rest of us), you've likely read Stephen Chbosky's 1999 coming-of-age novel "The Perks of Being a Wallflower" (published by MTV Books, incidentally). The film adaptation has been in the works for a while now, and the fact that Emma Watson (in her first leading non-"Harry Potter" role) and Logan Lerman are starring in it is only the icing on the cake.

Up until now, however, "Perks" has not had a studio financier, but according to Vulture, Summit is in talks to pick up the film and start shooting in June. Click on after the jump to see all the reasons why we think this is great news.

1. Summit has proven again and again that it has respect for the young adult audience. It picked up "Twilight" when nobody else would and turned it into a massive success story, and it's likely the production company will do the same for "Perks."

2. Emma Watson is hot. Not only is she literally an attractive young woman, but she's also money in the bank. Ever since she announced that she might quit acting after "Potter," every film she does going forward will be a commodity, plain and simple. Fans will come to the theater just because they haven't seen what she's capable of beyond Hermione Granger.

3. "Perks" has a built in fan base, and Summit knows how to work with a fan base. Again, going back to the evidence of what Summit's done with "Twilight," the production company knows how to listen to what fans want and act accordingly, which is good for a book that's as controversial as this.

4. This might not be good news for fans, but it certainly is important: When "The Twilight Saga" ends, Summit will need another big YA film to keep its teen audience interested. By picking stars like Logan and Emma, it's almost guaranteed that fans will flock to "Perks," and the studio needs another big hit that doesn't follow in the footsteps of "City of Ember" and "Percy Jackson and the Olympians: The Lightning Thief."

5. It's a film that should be made. "The Perks of Being a Wallflower" defines the 1990s in the same way it could be argued "The Social Network" reflects today's mores. But while "The Social Network" looks at the way sites like Facebook hinder our ability to interact socially (so counter-intuitive!), "Perks" looks at the seeds of that psychology, which began in the early 1990s. Main character Charlie is the story's titular wallflower, and his story rings true to teens born in the '90s and beyond.

Do you think it's good news that Summit Entertainment picked up "The Perks of Being a Wallflower"?