Partnering with Fidelity and Fortress, company's founder has bought out original investors
Legendary Pictures founder Thomas Tull has bought out several of the original investors, increasing his stake in the production company, TheWrap has confirmed.
Tull brought on Fidelity Investments and Fortress Investment Group to help him acquire the stakes, according to a Los Angeles Times report.
Fidelity, Fortress and Tull have bought out AIG Direct Investments, Bank of America, Abry Partners, Falcon Investment, Advisors Columbia Capital and M/C Venture Partners, an individual with knowledge of the situation confirmed to TheWrap. Tull plans to use his enhanced position in the company to more directly guide Legendary’s moves into gaming and digital media.
Legendary has a seven-year, 40 picture deal with Warner Bros. and will produce the “Superman” reboot, which Warner's has tapped Zack Snyder to direct. That pact is scheduled to end in 2013.
Since its founding in 2005, the company has racked up an impressive list of box-office hits, including “The Dark Knight,” “The Hangover,” "Inception" and most recently “The Town.”
A spokesperson for Legendary declined to comment.