Investment Underscores Legendary’s Premium Content, Distribution and Growth Plans
Apollo and Legendary Entertainment (“Legendary”) today announced that funds managed by Apollo affiliates (the “Apollo Funds”) have agreed to make a $760 million equity investment in Legendary, a global media company led by CEO Joshua Grode that develops, produces, distributes and finances major motion picture and TV projects across multiple platforms and maintains leading comic book, VR, licensing and merchandising divisions. The minority investment comes as Legendary concluded its most profitable year to-date in 2021 and with a strong balance sheet is ramping up production on a large slate of new films and TV series, in the United States and internationally.
Legendary is well positioned in the entertainment and content ecosystem with capabilities across film, television, digital media and comics, trusted relationships with top studios and streaming platforms, as well as a library of marquee media properties. The Company’s passion for transportive storytelling has driven its success across genres, producing premium content that features top talent and has true multi-platform distribution to engage audiences through a variety of mediums.
LionTree served as financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel to the Apollo Funds in the transaction. Moelis & Company served as lead financial advisor to Legendary and Paul Weiss and Stroock served as legal counsel. Han Kun Law Firm and KL Gates served as legal counsel for Wanda. Centerview Partners advised on pre-transaction matters.
Read more: Globe Newswire
