Musical producer

Apollo takes a minority stake in the producer of Dune Legendary | News

Apollo has taken a minimum stake in the studio, which Chinese group Dalian Wanda acquired in 2016 in a deal valued at $3.5 billion.

Led by CEO Joshua Grode, Legendary develops, produces, distributes and finances film and television projects, and has comic book, virtual reality, licensing and merchandising divisions.

Its content list includes movies Dunes and Godzilla vs. Kongstreaming feature film franchises, including Enola Holmes and upcoming movies Chainsaw Massacre and Costsas well as television series such as lost in space and Carnival Row and the series to be published soon paper girls and Light years.

Apollo said he was drawn to the studio’s track record of creating popular content and its relationships with top studios and streaming services.

Aaron Sobel and Lee Solomon, partners at Apollo Private Equity, said: “In investing in this fund, we were excited about the speed of their television and film business, the strong management team and the huge secular tailwinds that drive the industry. Legendary is already generating significant free cash flow that is being reinvested in high-growth categories, and we also see exciting M&A opportunities ahead.

Legendary CEO Joshua Grode said, “We are delighted to welcome Apollo as a new shareholder in Legendary and equally important as a thought partner in our business. This investment of funds from Apollo validates our success to date and reinvigorates our growth plans with a strategic capital partner who shares our goal of growing the business.

“We acquired Legendary in 2016 with the goal of expanding overall content production and distribution globally and we’ve had great success to date. We are delighted to now welcome Apollo as investors in the company,” said Lincoln Zhang, Senior Director of Legendary’s Board of Directors as Wanda’s representative.

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