Japan-based telecommunications firm SoftBank invested $250m in diversified US-based media company Legendary Entertainment on Friday.
Legendary produces films through its Legendary Pictures division, co-producing and co-financing blockbusters including Man of Steel, Pacific Rim and the Dark Knight trilogy with Warner Bros.
The company also oversees comic book publishing and digital media operations, and is partnering with baseball player Derek Jeter on a sports-based digital media company called The Players’ Tribune.
SoftBank made the investment as part of a joint venture to exploit Legendary’s intellectual property on over-the-top online video platforms, with a particular focus on the Chinese and Indian markets.
Nikesh Arora, CEO of SoftBank Internet and Media (SIMI), said: “Our goal at SIMI is to leverage SoftBank’s international platform and network of internet and media partners to accelerate content creators’ digital strategies and extend their global reach.
“Legendary is already a content powerhouse and we are very excited to make this investment and help them bring their incredibly successful film franchises and other exciting new media content to an even larger global audience.”
Launched in 2004 with $500m of private equity money, Legendary subsequently raised capital from Fidelity Investments, Fortress Investment Group, Accel Partners and asset management firm Waddell & Reed, which paid $443m for a 20% stake in December 2012.