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Softbank invests USD 250 mln in Legendary Entertainment
2014-10-03 09:11:00| Telecompaper Headlines
(Telecompaper) Softbank has agreed to buy a 7.5 percent stake in Legendary Entertainment, producer of the "Godzilla" film, for USD 250 million, with a view to maybe increasing its investment to USD 1 billion by 2017, Bloomberg reported, citing people with knowledge of the situation. The agreement will provide Legendary with fresh capital for growth and give SoftBank films and TV shows for networks it controls. The companies will form a venture to develop online and mobile services, with a focus on India and China, according to a statement. Other terms were not disclosed. Meanwhile, Nikesh Arora, the vice chairman of SoftBank and head of SoftBank Internet & Media, will join the board of the Burbank, the California company led by Thomas Tull. SoftBank is still considering other deals in media and digital technology, said one of the people familiar with the matter.
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