Legendary Sells $150 Million Stake to Japanese Broadcast Giant TBS in Strategic Tie-Up

The Japanese broadcasting and media giant Tokyo Broadcasting System is acquiring a $150 million stake in Legendary Entertainment as part of a strategic partnership between the companies, with ambitions to adapt Japanese IP for global audiences.

Legendary is betting that it can leverage its experience adapting IP (its projects include the Dune franchise, the Minecraft movie, Street Fighter and Godzilla), in helping TBS IP and content find a global audience. In addition to its TV networks, TBS also operates The Seven, a studio that is behind the Netflix series Alice in Borderland and Yu Yu Hakusho.

“For decades, TBS has played a central role working with all members of the creative ecosystem in Japan, from multiple publishers to animators to writers and artists,” said said Josh Grode, CEO of Legendary Entertainment. “Its position within the local market presents exciting opportunities for collaboration. We look forward to working with TBS to broaden…