Just one week after reportedly bidding $3.4 billion for Dreamworks, Softbank is making yet another content play with an investment in Legendary.
According to a press release, Softbank is pumping $250 million into a joint venture that aims to exploit Legendary’s intellectual property rights, including in television, digital, licensing and merchandising and other ancillary lines that cover China and India markets.
Nikesh Arora, Vice Chairman of SoftBank and CEO of SoftBank Internet and Media said in a statement that the goal is 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,” Arora said.
SoftBank’s investment is expected to close in October 2014, subject to certain conditions. Nikesh Arora will be appointed to Legendary’s Board of Directors as part of thie investment.