Japan’s Tokyo Broadcasting System (TBS) has made a $150m investment in US-based Legendary Entertainment.
The investment gives Tokyo Broadcasting System a minority stake in Legendary, while the studio continues to be co-owned by its management team and private equity firm Apollo.
The agreement includes a non-exclusive strategic partnership regarding Japanese IP adaptation for the global market. Legendary has previously adapted Japanese IP such as Godzilla and Street Fighter, and produced Apple TV+’s Drops of God.
Following the investment, Legendary is valued at approximately $4 billion.
Legendary Entertainment CEO Josh Grode commented on Tokyo Broadcasting System, saying: “Its position within the local market presents exciting opportunities for collaboration. 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 honours the talented creators.”
Yayoi Nakatani, board director and chief growth officer of TBS Holdings, said Legendary’s “proven ability to build and expand IPs into worldwide franchises will be an indispensable driving force to our global strategy.”
Nakatani also shared that The Seven and its US division has raised $180 million in new funding: “With a focus on TBS’s global strategy studios, The Seven and The Seven US will accelerate content investment and TBS Group’s creators will continue to deliver world-class content to global audiences.”
