Legendary Entertainment has sold a $150 million minority stake to Tokyo Broadcasting System as part of a non-exclusive agreement to source and develop Japanese IP.
The remaining equity continues to be owned by Legendary management and funds managed by affiliates of Apollo, who remain equal control shareholders of the business. The Raine Group acted as an exclusive financial advisor to Legendary in relation to the minority stake sale to TBS.
The deal, which will support both companies’ plans for global expansion, brings together the “Dune,” “Monsterverse” and “Minecraft” studio’s development, product and marketing expertise with TBS’ content production capabilities and respected and established reputation in the Japanese market.
The move comes as Legendary is already producing several projects based on Japanese IP across both theatrical and episodic, including “Godzilla x Kong: Supernova,” “Monarch: Legacy of Monsters,” “Street Fighter,” which recently wrapped production; “Gundam,” which is now in pre-production; “Drops of God” Season 2, as well as the previously produced “Pokémon: Detective Pikachu.”
“For decades, TBS has played a central role working with all members of the creative ecosystem in Japan, from multiple publishers to animators to writers and artists. Its position within the local market presents exciting opportunities for collaboration,” Legendary Entertainment CEO Josh Grode said in a statement. “We look forward to working with TBS to broaden our relationships in Japan and to help expand the global reach of its rich IP to the rest of the world in a manner that respects and honors the talented creators.”
TBS maintains one of Japan’s most extensive networks of entertainment companies and rights-holders, operating across broadcast networks, streaming platforms and production studios. Its global strategy studio division, The Seven, is responsible for global titles including Netflix’s “Alice in Borderland” and “Yu Yu Hakusho.”
“We are thrilled to partner with Legendary, a world-class studio with a remarkable track record of history-making global hits. Legendary’s exceptional creativity and their proven ability to build and expand IPs into worldwide franchises will be an indispensable driving force to our global strategy,” TBS Hodlings board director and chief growth officer Yayoi Nakatani added. “With a focus on TBS’s global strategy studios, ‘The Seven’ and ‘The Seven US’—which recently received a 180,000,000 USD capital increase— we will accelerate content investment and TBS Group’s creators will continue to deliver world-class content to global audiences.”
