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Legendary Pictures: History

Legendary Pictures, Inc. was founded and incorporated by Thomas Tull in California in 2000 after he raised $500 million from private equity firms, including ABRY Partners, AIG Direct Investments, Bank of America Capital Investors, Columbia Capital, Falcon Investment Advisors, and M/C Venture Partners. In 2005 it signed an agreement with Warner Bros. to co-produce and co-finance up to 40 films over seven years. In July 2013, Legendary reached an agreement with Universal Pictures in which it would market, co-finance, and distribute Legendary's films for five years starting in 2014, the year that Legendary's similar agreement with Warner Bros. expired. In 2014, Legendary acquired the television production company Asylum Entertainment, which made ESPN’s ‘30 for 30’ and miniseries ‘The Kennedys’, for $100 million, but Asylum Entertainment will continue operating as a separate company. On January 11, 2016, Chinese conglomerate Wanda Group announced that it concluded an agreement with shareholders to acquire Legendary Entertainment for $3.5 billion, making it the largest acquisition of an American media company by a Chinese firm. On January 17, 2017, it was announced that Tull had exited as Legendary Entertainment CEO. He was replaced with the senior vice president of Wanda's cultural industry group, Jack Gao, as interim CEO. On October 17, 2017, it was reported that Gao stepped down from his positions at Legendary Entertainment and Wanda Group. On December 5, 2017, it was announced that Joshua Grode had been named as Legendary Entertainment CEO.

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