Studio Behind Dune Eyes Growth, Even Without a Paramount Merger
Legendary Entertainment wants to use investor Apollo Global Management’s deep pockets to produce sequels and spinoffs of its recent hits—whether or not it combines with Redstone’s studio.
Illustration: María Jesús Contreras for Bloomberg Businessweek
It’s been a busy spring for Legendary Entertainment. On March 1 the movie operation backed by Apollo Global Management Inc. released Dune: Part Two, which has racked up global box-office receipts nearing $700 million. And on March 29 it premiered Godzilla x Kong: The New Empire, which has taken in almost $500 million. The back-to-back blockbusters have made Legendary, which funded the majority of the movies’ production budgets and is in talks to develop sequels to both pictures, the most successful film producer so far this year.
While enjoying Legendary’s success, Apollo has been pursuing a much bigger prize: Paramount Global, the storied home of the Top Gun movies and Yellowstone television series. That fight has put Legendary’s future in the spotlight as well.