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October 2, 2014

SoftBank puts $250 million toward joint movie venture with Legendary

by John_A

Just days after reports circulated that SoftBank was looking to nab DreamWorks so it could tap into the movie biz, the company is investing elsewhere. Today, the Japanese outfit announced that it’s forming a “strategic partnership” with another film studio: Legendary Entertainment. SoftBank is putting up $250 million to back the endeavor, aiming to push the movie maker’s content over the web and on mobile devices — focusing on the China and India markets in particular. If you’re in need of a refresher, Legendary is the muscle behind films like Man of Steel, The Dark Knight Rises, and Inception. Variety reports that SoftBank’s talks with DreamWorks stalled during the course of discussing a rumored $3.4 billion acquisition deal.

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Via: Variety

Source: Legendary, SoftBank

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