Legendary Pictures has made an investment in Library Pictures International with plans to fund local-language productions.
Library Pictures is a content-financing entity organized earlier this year by CAA Media Finance to support industry-leading filmmakers and distributors by investing in local-language production slates. As part of the deal, Legendary becomes part of a team at Library to fund deals in India, Latin America and Spain, with Malaysia, Indonesia, South Korea, Vietnam and China.
“Library Pictures aims to fulfill a fundamental and overwhelming demand in local territories for filmed entertainment that simultaneously embodies and is authentic to those audiences,” said Joshua Grode, Legendary CEO. “Not only do we have a unique opportunity to lift and empower new voices and local producers, but we can benefit economically by investing in and supporting these lucrative marketplaces.”
David Taghioff, who leads Library from its Los Angeles headquarters, cited Legendary’s role as a pioneer of slate financing, its strategic knowledge and appreciation for international storytellers.
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“They are an ideal partner in fueling Library’s continued growth as we collectively support content creators around the world,” he added
The deal was brokered by Sam Kozhaya on behalf of Legendary and CAA Media Finance on behalf of Library. Evolution Media Capital served as sole financial adviser to Library.
Legendary has backed the “Dark Knight” and “Jurassic World” series, “Interstellar” and the upcoming movies “Godzilla vs. Kong” and “Dune.”
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