SOFTBANK BUYS A $250-MILLION STAKE IN LEGENDARY FILMS

Japan’s SoftBank and Hollywood’s Legendary Entertainment have confirmed reports that SoftBank will take a $250-million stake in Legendary and form a joint venture to exploit its catalog of films, which include such blockbuster hits as The Dark Knight, Godzilla, The Hangover and Inception. The announcement came following reports that SoftBank’s attempt to acquire DreamWorks Animation had collapsed. As part of the deal, SoftBank said that it would help bring Legendary’s films to television and the Internet, and exploit them through licensing, merchandising, and other ancillary lines. The companies said that they would particularly focus "on the burgeoning China and India markets." Analysts have indicated that SoftBank, a global broadband company — it acquired Sprint last year — intends to expand its investment in content companies well beyond the Legendary deal — with Lionsgate and MGM likely targets.