Legendary Entertainment close to a quarter of a million in financing
![According to the LA Times, Legendary Entertainment — the finance and production company behind movies like The Dark Knight and Wrath of the Titans — is close to raising about $250 million. The new financing values the production company at nearly $1.5 billion and is expected to be ready by next week. It will bring new […]](http://darkknight.tribute.ca/wp-content/uploads/2012/03/legendary.jpg "Legendary Entertainment close to a quarter of a million in financing - The Dark Knight")
According to the LA Times, Legendary Entertainment — the finance and production company behind movies like The Dark Knight and Wrath of the Titans — is close to raising about $250 million. The new financing values the production company at nearly $1.5 billion and is expected to be ready by next week. It will bring new investors to the Burbank company.
This year, Legendary is co-financing one of the most anticipated movies of the summer, Christopher Nolan’s The Dark Knight Rises. While Legendary usually has a 50 per cent stake in the movies they finance, their cut of The Dark Knight Rises is only half of that. After tense negotiations between Thomas Tull, Chairman of Legendary Entertainment and Jeff Robinov, Warner film group president, the agreement they reached is that Legendary would be responsible for 25 per cent of the movie’s costs and earnings. Although previously Legendary Entertainment exclusively co-financed Warner Bros. films such as The Hangover and Superman Returns, it has recently begun production of its own movies, such as Guillermo del Toro’s Pacific Rim or the adventure movie The Seventh Son, both coming out in 2013.
