JAPAN TIMES



 

Legendary Entertainment, producer of "Dune" and "A Minecraft Movie," formed a strategic partnership with Tokyo-based broadcaster TBS Holdings to develop Japanese stories into global film and TV properties.
 
TBS, parent of the Tokyo Broadcasting System, will acquire a $150 million stake in Legendary, according to a statement from the companies.

The shares are being acquired from Apollo Global Management and Legendary’s leadership and value the company at more than $4 billion, according to a person with knowledge of the matter.
 
Legendary aims to capitalize on the growing market for Japanese stories. Its film "Godzilla x Kong: The New Empire," based on the iconic Japanese monster, grossed more than $570 million in theaters in 2024, while Sony Group’s "Demon Slayer: Kimetsu no Yaiba — The Movie: Infinity Castle" took in over $700 million last year. That topped U.S. blockbusters like "Superman" and "The Fantastic Four: First Steps."
 
TBS, one of the leading media companies in Japan, approached Legendary a year ago, according to Josh Grode, the U.S. company’s chief executive officer. TBS owns broadcast networks, streaming services and a studio that produced the hit Netflix show "Alice in Borderland."
 
Legendary has already produced several movies and series set in the monster universe. It produced the TV shows "Monarch: Legacy of Monsters" for Apple TV and "Skull Island" for Netflix.
 
"Having them as partners to enhance what we are already doing in Japan appealed” to Legendary’s leadership, Grode said in an interview. Foreign media companies are always seen as outsiders, and having a local partner can help open some doors.
 
While Japan has long been one of the world’s largest media markets, most of its biggest players have been focused on domestic customers. That’s changed as Netflix, Spotify Technology and other global services have made it easier for stories and songs in any language to reach audiences abroad.
 
Toho, Japan’s biggest movie company and the owner of Godzilla, has been looking to release more of its films globally and build attractions based on its characters outside of Japan.
 
Toho encouraged Legendary to do the deal with TBS, which has some of its own intellectual property and relationships across the Japanese industry, Grode said.
 
Legendary, based in Burbank, California, is one of the largest independent studios and financiers in the U.S. It was wholly owned by the Chinese company Dalian Wanda until 2022, when Apollo acquired a $760 million equity stake. Legendary bought out Wanda’s remaining holdings in 2024.