This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Apollo Buys Minority Stake in ‘Dune’ Producer Legendary Entertainment
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Business > Apollo Buys Minority Stake in ‘Dune’ Producer Legendary Entertainment
Business

Apollo Buys Minority Stake in ‘Dune’ Producer Legendary Entertainment

Editorial Board Published January 31, 2022
Share
Apollo Buys Minority Stake in ‘Dune’ Producer Legendary Entertainment
SHARE

Apollo Global Management Inc. APO 2.70% is buying a minority stake in Legendary Entertainment, the latest in a series of deals struck by Hollywood firms cashing in on the growing demand for streaming content.

Apollo, a private-equity firm, said Monday it agreed to pay $760 million for its stake in Legendary Entertainment, the Burbank, Calif.-based company that has backed such movies as “Dune,” “Jurassic Park” and “The Dark Knight.”

The companies declined to provide a valuation for Legendary Entertainment.

Dalian Wanda Group Co., the Chinese conglomerate that owns Legendary Entertainment, will retain a majority stake, according to people familiar with the matter. As part of the deal, operational control of Legendary Entertainment will shift to executives at Legendary, according to a person familiar with the deal.

Hollywood has been a hotbed for deal making in recent months. Candle Media, a media company backed by private-equity firm Blackstone Inc., has paid to acquire ownership interests in Hello Sunshine, the media company founded by actress Reese Witherspoon, Westbrook Inc., the production company co-founded by actors Will Smith and Jada Pinkett Smith, and Moonbug Entertainment, the company behind children’s franchise “CoComelon.”

Aaron Sobel, a partner at Apollo, said in an interview that the private-equity firm’s investment in Legendary is part of a broader bet on the increasing value of quality content in the coming years.

“Good content matters way more,” Mr. Sobel said. “The cream rises to the top, and these guys have demonstrated their ability to do that.”

Mr. Sobel said Legendary Entertainment was appealing to Apollo because of its profitability, though he declined to provide specific figures. Apollo generally focuses on profitable assets in the media sector, including its 2021 purchase of Yahoo for $5 billion.

Legendary Chief Executive Joshua Grode said in an interview that the deal would allow the company to take advantage of the booming market for movies and TV shows.

“Having a company like Apollo as a major investor gives us the financial firepower to really grow the business,” Mr. Grode said.

Write to Benjamin Mullin at [email protected]

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

TAGGED:Business NewsPAIDWall Street Publication
Share This Article
Twitter Email Copy Link Print
Previous Article Fed’s George: Current Fed Stance ‘Out Of Sync’ With Economic Outlook Fed’s George: Current Fed Stance ‘Out Of Sync’ With Economic Outlook
Next Article Beijing Winter Olympics begin under a cloud as politics, pandemic take center stage Beijing Winter Olympics begin under a cloud as politics, pandemic take center stage

Editor's Pick

Jordan Peterson Hospitalized, ‘Close to Loss of life’ Amid Weird Eating regimen, ‘A long time of Mould Publicity,’ Daughter Says

Jordan Peterson Hospitalized, ‘Close to Loss of life’ Amid Weird Eating regimen, ‘A long time of Mould Publicity,’ Daughter Says

Studying Time: 3 minutes Based on the most recent replace from his daughter, writer and psychologist Jordan Peterson is coping…

By Editorial Board 5 Min Read
Maggie Baugh: Every part We Know About Keith City’s Rumored New Girlfriend
Maggie Baugh: Every part We Know About Keith City’s Rumored New Girlfriend

Studying Time: 3 minutes Is Keith City hooking up together with his…

4 Min Read
Danielle Fishel Rebuffs Whitney Leavitt After ‘DWTS’ Gaffe
Danielle Fishel Rebuffs Whitney Leavitt After ‘DWTS’ Gaffe

Studying Time: 2 minutes Did Danielle Fishel simply put Whitney Leavitt in…

4 Min Read

Oponion

Calls to upgrade masks intensify as omicron spreads

Calls to upgrade masks intensify as omicron spreads

Your cotton Hello Kitty mask is no longer going to…

January 5, 2022

Get To Know Our Icons: Chris from Clicky Bezel | Fashion

We independently consider all really helpful…

October 30, 2024

Brittany Mahomes & Taylor Swift Lastly Quash Feud Rumors

Did Brittany Mahomes simply affirm feud…

December 19, 2024

San Jose protesters persist regardless of state’s abortion rights stance

Editor’s Observe: This text was written…

December 9, 2024

Surging Inflation Has Workers Demanding Bigger Raises

The COLA is making a comeback.Higher…

December 21, 2021

You Might Also Like

Russia for Business: Experts Who Help Drive Decisions
BusinessTrending

Russia for Business: Experts Who Help Drive Decisions

Amid sanctions and the restructuring of global supply chains, understanding the logic behind Russia’s actions has become a practical necessity…

4 Min Read
The Quiet Shift in America’s Workforce: Why Side Hustles Are Becoming Essential for Women Over 40
BusinessTrending

The Quiet Shift in America’s Workforce: Why Side Hustles Are Becoming Essential for Women Over 40

Across the nation, a quiet but powerful workforce shift is underway. Increasingly, women over 40 are seeking side hustles to…

4 Min Read
Thales Reinforces its Management in eSIM and IoT Connectivity with a ‘Ready to Use’ Licensed Resolution
Business

Thales Reinforces its Management in eSIM and IoT Connectivity with a ‘Ready to Use’ Licensed Resolution

At a time when billions of linked objects are reshaping industries, Thales has achieved a vital safety certification for its…

4 Min Read
Soracom IoT Platform Achieves SOC 2 Kind 2 Compliance for Safety, Availability, and Confidentiality
Business

Soracom IoT Platform Achieves SOC 2 Kind 2 Compliance for Safety, Availability, and Confidentiality

Soracom, Inc., right now introduced that it has efficiently achieved System and Group Controls (SOC) 2 Kind 2 compliance, reinforcing…

2 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?