Legendary Sells Stake to Tokyo Broadcasting System in IP Partnership

The Tokyo Broadcasting System has made a strategic investment in Legendary Entertainment, the producer of “Dune” and the Godzilla franchise, that will allow the Hollywood company access to more Japanese intellectual property.

TBS – which operates broadcast networks, streaming platforms, production studios and a broad entertainment portfolio – has acquired a $150 million minority ownership stake in Legendary, led by CEO Josh Grode and chief creative Mary Parent. Legendary leadership and Apollo Funds remain co-owners of the studio’s majority stake. The partnership is non-exclusive across content verticals.

“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. Its position within the local market presents exciting opportunities for collaboration. We look forward to working with TBS to broaden our relationships in Japan and to help expand the global reach of its rich IP to the rest of the world in a manner that respects and honors the talented creators,” said Grode.

Included in the TBS portfolio is production shop The Seven (which has both Japanese and domestic offices), behind series including Netflix’s “Alice in Borderland” and “Yu Yu Hakusho.” Legendary’s slate is steeped in Japanese IP across both theatrical films and shows, including “Godzilla x Kong: Supernova,” “Monarch: Legacy of Monsters,” “Street Fighter,” which recently wrapped production and the previously produced “Pokémon: Detective Pikachu.”

Yayoi Nakatani, board director and chief growth officer of TBS Holdings, said he was “thrilled to partner with Legendary, a world-class studio with a remarkable track record of history-making global hits. Legendary’s exceptional creativity and their proven ability to build and expand IPs into worldwide franchises will be an indispensable driving force to our global strategy.”