Legendary Entertainment Now Solely Owned By Management & Funds Managed By Affiliates Of Apollo Funds; Self-Funded Buyout Via Cash On Balance Sheet Without Outside Financing; Board To Be Evenly Split Between Management & Apollo
Portfolio Pulse from Benzinga Newsdesk
Legendary Entertainment has been acquired solely by its management and funds managed by affiliates of Apollo Funds. The buyout was self-funded using cash on the balance sheet, without any outside financing. The board will be evenly split between management and Apollo.
October 14, 2024 | 5:05 pm
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POSITIVE IMPACT
Apollo Global Management's affiliates have participated in a self-funded buyout of Legendary Entertainment, resulting in shared ownership with management and an evenly split board.
Apollo's involvement in the buyout of Legendary Entertainment suggests strategic investment and potential growth opportunities. The self-funded nature indicates financial strength and confidence in the asset, likely positively impacting Apollo's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80