SoftBank Makes $250 Million Investment in Legendary

TOKYO/BURBANK: Japan's SoftBank Corp. has invested $250 million in the Hollywood entertainment financier and producer Legendary Entertainment.

The two companies are forming a joint venture to exploit Legendary's IP rights, including TV, digital, L&M and other ancillary lines, across various OTT and mobile platforms. There will be a particular focus on the Chinese and Indian markets.

Nikesh Arora, vice chairman of SoftBank and CEO of SoftBank Internet and Media, Inc. (SIMI), said, “Our goal at SIMI is to leverage SoftBank's international platform and network of Internet and media partners to accelerate content creators' digital strategies and extend their global reach. Legendary is already a content powerhouse and we are very excited to make this investment and help them bring their incredibly successful film franchises and other exciting new media content to an even larger global audience.”

Thomas Tull, Legendary's chairman and CEO, added, “Masayoshi Son has built SoftBank into one of the world's most respected companies. With the arrival of Nikesh and the launch of SIMI, they have a great opportunity to extend their reach into media and entertainment. We are excited to be one of SIMI's first partners and look forward to working together to deliver the next phase of Legendary's growth.”