is buying a minority stake in Legendary Entertainment, the latest in a series of deals struck by Hollywood firms cashing in on the growing demand for streaming content.
Apollo, a private-equity firm, said Monday it agreed to pay $760 million for its stake in Legendary Entertainment, the Burbank, Calif.-based company that has backed such movies as “Dune,” “Jurassic Park” and “The Dark Knight.”
The companies declined to provide a valuation for Legendary Entertainment.
Dalian Wanda Group Co., the Chinese conglomerate that owns Legendary Entertainment, will retain a majority stake, according to people familiar with the matter. As part of the deal, operational control of Legendary Entertainment will shift to executives at…
