Sony seals distribution deal with Legendary Entertainment, which departs Warner Bros.
Sony Pictures (NYSE:SONY) has sealed a multi-year distribution deal with filmmakers Legendary Entertainment - the producers behind movies including Dune, Godzilla vs. Kong, Jurassic World and Christopher Nolan's Batman films - formalizing the end of Legendary's close relationship with Warner Bros. (NASDAQ:WBD).
The deal includes Sony marketing and distributing Legendary's theatrical releases worldwide, except for China (where Legendary East will handle those roles). Sony Pictures also handles home entertainment and TV distribution for the titles it's releasing.
Meanwhile, Legendary will retain an option to produce and distribute feature films for a range of streaming platforms, whether current or coming in the future.
"Sony Pictures and Legendary are aligned in their ongoing commitment to theatrical distribution as a driver for other 'downstream' windows and the theatrical windowâs long-term value for films," the companies said.
Legendary will stay in business with Warner Bros. (WBD) on "select" existing titles, notably including Dune: Part Two, currently set for a November 2023 release.
âItâs a rare opportunity to partner in this mutually beneficial way with true pros, who are completely aligned in our theatrical commitment and vision for this business,â said Sony Pictures Motion Picture Presidents Josh Greenstein and Sanford Panitch.
The 2021 version of Dune made more than $400M worldwide, and Godzilla vs. Kong more than $470M, despite simultaneous releases on HBO Max.