Japanese telecommunications and Internet company Softbank Corp is investing US$250 million in media company Legendary Entertainment, known for films such as The Dark Knight and Man of Steel.
The announcement from the companies on Thursday comes days after media reports that Softbank was in acquisition talks with DreamWorks Animation.
Softbank will form a joint venture with Legendary that will use Legendary’s intellectual property to produce TV and digital products as well as for licensing and merchandising, with a focus on China and India.
Softbank said it wants to work with Legendary to bring its film franchises and other products to an “even larger global audience.”
Content creators will be able to take advantage of Softbank’s “international platform and network of Internet and media partners” to extend their global reach, Softbank Internet and media chief Nikesh Arora said in a statement on the Legendary Web site.
The investment is expected to close this month and comes with conditions that include Arora getting a seat on Legendary’s board of directors.
Last year, Legendary, previously with Warner Bros, signed a five-year marketing and distribution deal with Universal Pictures.
Softbank has been building stakes in different industries, including media. It bought 78 percent of Sprint Nextel Corp for US$21.6 billion last year.
It also has a 32 percent stake in Chinese e-commerce company Alibaba Group Holding Ltd (阿里巴巴), which just had a blockbuster initial public offering on the New York Stock Exchange.
Shares in DreamWorks Animation SKG Inc, which had risen on the reported Softbank talks on Monday, retreated US$1.96, or 7.4 percent, to US$24.79 in Thursday afternoon trading.
Softbank shares fell 0.73 percent to ¥7,439 in Tokyo trading yesterday.
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