Add Legendary Entertainment to the list of media companies that may capitalize on the burgeoning desire for high-end Hollywood content. Bloomberg reported in April Legendary had tapped investment bank LionTree LLC to explore possible deals, including merging with a special purpose acquisition company (SPAC). But talks appear to be heating up in recent weeks, with the company exploring something separate and apart from a SPAC, according to insiders.
Film and television production company Legendary Entertainment has named longtime industry lawyer Joshua Grode as its new chief executive, the company said today.
Thomas Tull has resigned as chairman and chief executive of Legendary Entertainment, nearly a year after China’s Dalian Wanda Group acquired the Burbank, Calif., film and TV production company in a high-profile deal worth $3.5 billion. Wanda has installed Jack Gao as Legendary’s interim chief executive.
Wanda’s latest purchase is the fourth-largest Chinese investment in the United States, according to Dealogic, a financial information provider. Wanda, whose chairman, Wang Jianlin, is one of China’s richest businesspeople, has expanded rapidly into the film industry. It bought the U.S. cinema chain AMC in 2012 and is developing an $8 billion studio complex in eastern China.
The question of Bruce Rosenblum’s plan for his second act after a nearly 25-year run at Warner Bros. has been answered. The former Warner Bros. TV Group topper has joined Legendary Entertainment as president of TV and digital media.