Private-equity firm Apollo is paying $760 million for 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
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 investments in the media sector, including its 2021Legendary 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.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
‘Dune’ Producer Legendary Entertainment Sells $760 Million Stake to ApolloLegendary Entertainment has sold a $760 million equity stake to Apollo, the companies announced on Monday The pact gives the investment giant a minority ownership position in the studio behind &82…
Leer más »
WWE's Apollo Crews Talks Royal Rumble, His 2021 Evolution, and Future Feud with Roman Reigns and The BloodlineWWE’s ApolloCrews talks what a RoyalRumble win would mean, his 2021 evolution, and a future feud with RomanReigns and The Bloodline! -
Leer más »
‘Dune’ Producer Legendary Entertainment Sells $760 Million Stake to ApolloLegendary Entertainment has sold a $760 million equity stake to Apollo, the companies announced on Monday The pact gives the investment giant a minority ownership position in the studio behind &82…
Leer más »
Google To Invest Up To $1 Billion In Indian Billionaire Sunil Mittal’s Bharti AirtelAlphabet Inc’s Google on Friday said it is investing up to $1 billion in Bharti Airtel, including $700 million to buy a 1.28% stake in India’s second-largest telecom operator.
Leer más »
How to Stake Cardano (ADA)When staking ADA tokens, users can choose whether to outsource the process to delegate stake-pool operators or run their own Cardano staking pool.
Leer más »
WWE's Apollo Crews Talks Royal Rumble, His 2021 Evolution, and Future Feud with Roman Reigns and The BloodlineWWE’s ApolloCrews talks what a RoyalRumble win would mean, his 2021 evolution, and a future feud with RomanReigns and The Bloodline! -
Leer más »