Legendary Pictures has invested in Library Pictures International, the local-language content financier backed by a consortium that includes Atwater Capital and German mini-major Leonine.
The unspecified investment will enable Legendary to play a part in funding content across initial deals covering India, Latin America, and Spain, with Malaysia, Indonesia, South Korea, Vietnam, and China among territories targeted for expansion.
So far no projects have been revealed since Library Pictures International, set up under the leadership of David Taghioff and structured with the help of CAA Media Finance, was unveiled in Cannes.
“Given Legendary’s role as a pioneer of slate financing, Josh, Mary and the entire Legendary team bring unparalleled strategic knowledge coupled with a deep appreciation for international storytellers,” said Taghioff. “They are an ideal partner in fueling Library’s continued growth as we collectively support content creators around the world.”
“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. 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,” said Legendary Entertainment CEO Josh Grode.
Sam Kozhaya brokered the deal on behalf of Legendary with CAA Media Finance on behalf of Library Pictures International. Evolution Media Capital served as sole financial advisor to Library Pictures International.