'Legendary Entertainment Buys Out Wanda's Remaining Ownership Stake In New Era For Studio' - Deadline
Portfolio Pulse from Benzinga Newsdesk
Legendary Entertainment has bought out Wanda Group's remaining stake, marking a new era for the studio. The transaction was funded entirely from Legendary's cash reserves, without involving partner Apollo Global. Apollo and Legendary now co-own the company, with an evenly split board.
October 14, 2024 | 5:04 pm
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Apollo Global Management remains a key partner in Legendary Entertainment after the buyout of Wanda's stake. The transaction was funded by Legendary's cash reserves, maintaining Apollo's co-ownership and influence.
Apollo Global Management's investment in Legendary Entertainment remains intact and influential after the buyout of Wanda's stake. The transaction, funded by Legendary's cash reserves, ensures Apollo's continued co-ownership and influence, which could positively impact Apollo's stock as it maintains a significant stake in a potentially more profitable Legendary.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80