Chinese conglomerate Wanda acquired the studio in 2016.
And so, as a result, we were able to get a transaction done, Grode tells Deadline.
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Josh Grode, Legendary Entertainment CEOGetty Images
The purchase of Wandas remaining ownership interest is the next strategic step in Legendarys long-range growth plan.
Grode calls Apollo an idea partner.
And private equity played a really great role in that.
The guys at Apollo have been unbelievably good partners.
They understand the business.
They understand the ups and downs.
Apollo is no stranger to showbiz.
It recently bid for Paramount Pictures and Paramount Global, first solo then in partnership with Sony.
(The Shari Redstone company ultimately ended up with Skydance in a merger set to close next year.)
In 2023, Legendary secured a five-year, $800 million credit facility led by J.P. Morgan.
When Wanda acquired Legendary it was then Chinas largest cross-border cultural acquisition.
Legendarys team has had creative control for years even with Wanda as owner.
And I dont think anybody needed any motivation to work hard or do their best work.
Whats the logical place to expand?
We certainly have the bandwidth to increase our output on the theatrical side.
Were known in both film and television for creating great content based on pre-existing intellectual property.
I dont see that changing.
I see that accelerating.
