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Legendary Entertainment
Legendary Entertainment, LLC (also known as Legendary Pictures or simply Legendary) is an American mass media and film production company based in Burbank, California, founded by Thomas Tull in 2000. The company has often collaborated with the major studios, including Warner Bros. Pictures, Universal Pictures, Sony Pictures and Paramount Pictures, as well as streaming services such as Netflix and Hulu.
In 2016, Legendary became a subsidiary of the Chinese conglomerate Wanda Group, with American equity firm Apollo buying a minority stake in 2022. In 2024, Legendary Entertainment bought out Wanda's stake, making Legendary and Apollo equal partners.
Thomas Tull founded Legendary Entertainment with co-founders, Jon Jashni, Larry Clark, William Fay and Scott Mednick after raising $500 million from private equity firms. It was one of the first companies of its kind to pair major motion picture production with major Wall Street private equity and hedge fund investors, including ABRY Partners, AIG Direct Investments, Bank of America Capital Investors, Columbia Capital, Falcon Investment Advisors, and M/C Venture Partners. Legendary Pictures, Inc. was incorporated in California and in 2005 it signed an agreement with Warner Bros. to co-produce and co-finance up to 40 films over seven years.
In 2010, Tull, Fidelity Investments, and Fortress Investment Group bought all the shares of the original investors. The buyout also included a $25 million investment by Orange Sky Golden Harvest Entertainment. Following the transaction, Tull became the largest shareholder, thus enabling him to more easily direct the company's operations. Golden Harvest later sold its stake in the company for $30 million. In 2011, Accel Partners bought $40 million-worth of shares and Accel partner Jim Breyer joined the company's board of directors. That same year the company was reported to have been valued at more than $1 billion.
In September 2011, Legendary Pictures Chief Creative Officer Jon Jashni was appointed to the new position of President and Chief Creative Officer of the parent company, Legendary Entertainment. William Fay left Legendary Pictures in September 2011. In December 2012, Waddell & Reed bought around 20% of Legendary's shares for $443 million.
On July 10, 2013, Legendary reached an agreement with Universal Pictures in which it would market, co-finance, and distribute Legendary's films for five years starting in 2014, the year that Legendary's similar agreement with Warner Bros. expired. In October 2014, SoftBank bought $250 million shares in Legendary for a 10% stake. The transaction increased the company's total value to around $3 billion.
In 2014, Legendary acquired the television producer Asylum Entertainment, which made ESPN's 30 for 30 and miniseries The Kennedys, for $100 million, with Asylum Entertainment to continue operating as a separate company.
On January 11, 2016, Chinese conglomerate Wanda Group announced that it had concluded an agreement with shareholders to acquire Legendary Entertainment for $3.5 billion, making it the largest acquisition of an American media company by a Chinese firm.
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Legendary Entertainment
Legendary Entertainment, LLC (also known as Legendary Pictures or simply Legendary) is an American mass media and film production company based in Burbank, California, founded by Thomas Tull in 2000. The company has often collaborated with the major studios, including Warner Bros. Pictures, Universal Pictures, Sony Pictures and Paramount Pictures, as well as streaming services such as Netflix and Hulu.
In 2016, Legendary became a subsidiary of the Chinese conglomerate Wanda Group, with American equity firm Apollo buying a minority stake in 2022. In 2024, Legendary Entertainment bought out Wanda's stake, making Legendary and Apollo equal partners.
Thomas Tull founded Legendary Entertainment with co-founders, Jon Jashni, Larry Clark, William Fay and Scott Mednick after raising $500 million from private equity firms. It was one of the first companies of its kind to pair major motion picture production with major Wall Street private equity and hedge fund investors, including ABRY Partners, AIG Direct Investments, Bank of America Capital Investors, Columbia Capital, Falcon Investment Advisors, and M/C Venture Partners. Legendary Pictures, Inc. was incorporated in California and in 2005 it signed an agreement with Warner Bros. to co-produce and co-finance up to 40 films over seven years.
In 2010, Tull, Fidelity Investments, and Fortress Investment Group bought all the shares of the original investors. The buyout also included a $25 million investment by Orange Sky Golden Harvest Entertainment. Following the transaction, Tull became the largest shareholder, thus enabling him to more easily direct the company's operations. Golden Harvest later sold its stake in the company for $30 million. In 2011, Accel Partners bought $40 million-worth of shares and Accel partner Jim Breyer joined the company's board of directors. That same year the company was reported to have been valued at more than $1 billion.
In September 2011, Legendary Pictures Chief Creative Officer Jon Jashni was appointed to the new position of President and Chief Creative Officer of the parent company, Legendary Entertainment. William Fay left Legendary Pictures in September 2011. In December 2012, Waddell & Reed bought around 20% of Legendary's shares for $443 million.
On July 10, 2013, Legendary reached an agreement with Universal Pictures in which it would market, co-finance, and distribute Legendary's films for five years starting in 2014, the year that Legendary's similar agreement with Warner Bros. expired. In October 2014, SoftBank bought $250 million shares in Legendary for a 10% stake. The transaction increased the company's total value to around $3 billion.
In 2014, Legendary acquired the television producer Asylum Entertainment, which made ESPN's 30 for 30 and miniseries The Kennedys, for $100 million, with Asylum Entertainment to continue operating as a separate company.
On January 11, 2016, Chinese conglomerate Wanda Group announced that it had concluded an agreement with shareholders to acquire Legendary Entertainment for $3.5 billion, making it the largest acquisition of an American media company by a Chinese firm.