DuneproducerLegendary Entertainmenthas secured an $800 million five-yearcredit facilityled by J.P. Morgan, replacing an existing agreement with improved and market-leading terms that reflect its profitability and success in executing its business plan, the company said.
Led by CEO Josh Grode, Legendary develops, produces, distributes and finances films and TV content across platforms and is growing in comic books, VR, licensing and merchandising.
Deadline reported Monday thatit is one of four suitors circling eOneas Hasbro prepares to sell a majority stake in the indie film and TV studio.
‘Dune’ from LegendaryWarner Bros.
Related Stories
eOne: Fremantle, Lionsgate & Legendary In Pursuit Of Hasbro Company As Sale Process Enters Final Stage
Writers Guild Of America West Staff Union Wins Voluntarily Recognition, Moves To Negotiate First Contract
We are pleased to extend our relationship with J.P. Morgan as we continue to grow our global film and TV pipeline and monetize our IP across multiple platforms.
The success of our film and television productions from our creative team led by Mary Parent reflects our intentional strategy of creating compelling content that resonates with audiences around the world, Grode said, referring to Legendary vice chair, worldwide production.
We look forward to leveraging our relationship to further build upon a proven track record of critical and commercial success.
Watch on Deadline
According to David Shaheen, entertainment industries head at J.P. Morgans corporate banking group, Legendary has built a premier company and has positioned itself as a true market leader.
We are very pleased to have executed a highly successful transaction with broad support from the entertainment banking community, he said.
Legendary separately closed a $760 million equity investment from Apollo Private Equity Funds in early 2022, putting more M&A opportunities, likeeOne, on the table.
Since 2018 under new management, Legendary has released a wide slate of major titles fromDuneandEnola Homes(and its sequel) toGodzilla vs. Kong.
It recently announced TV seriesDrops of God, an international series based on an anime property, which was picked up by Apple TV+, and is in production on aMonsterverse live-action series for Apple TV+.
Upcoming titles include Bert KreischersThe Machine,Dune: Part Two,new entries in the Godzilla/Kong andDetective Pikachu franchises, as well as a film based on the record-breakingStreet Fightergame, which Legendary recently acquired the rights to adapt.
