Legendary Entertainment Raises $443 Million
Legendary Entertainment raised $443 million through various affiliates of Waddell & Reed Financial, the partners said Tuesday.
Earlier this year, Legendary raised about $275 million from a host of sources. The company said Tuesday it has closed nearly $720 million in financing in 2012.
Legendary said it will put the funds raised through Waddell & Reed toward “growth and working capital across its filmed entertainment and publishing divisions, and to build out further opportunities in the digital, merchandising and television sectors.”
Legendary and partner Warner Bros. have a busy – and expensive – slate of films in the upcoming year, including The Hangover Part III, Man of Steel, Jack the Giant Slayer and 300: Rise of an Empire. Among Legendary’s solely developed movies in the works are Pacific Rim, Godzilla, 42, Seventh Son and Warcraft.
“Waddell & Reed is the gold standard in their sector, and the right capital partner for Legendary, at the right time in our business,” Legendary CEO Thomas Tull said. “We are pleased to have their support and enthusiasm for our model and potential.”