Tom Barrack's Colony Capital reportedly exploring stake in Legendary Entertainment
Pokemon Detective PikachuAny deal would signal a return to entertainment investment for Colony, which purchased Miramax from the Walt Disney Company in 2010. The investment group sold that asset to Qatar-based BeIN Media Group in 2016.
Colony's interest in Legendary stems from its past relationship with the studio's current CEO, Joshua Grode, who advised Colony on the Miramax deal back when we was still an attorney. Bloomberg's sources say Colony is looking to set up a new fund called Colony Media Partner to execute the Legendary investment and other potential media deals. Saudi Arabia’s Public Investment Fund has also shown interest in investing in Legendary via the fund, the people said. The deal is said to be in the early stages of negotiations.
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