Legendary Pictures has invested in Library Pictures International, a content financing entity organized earlier this year by CAA Media Finance to support filmmakers and distributors in the international market by investing in local language production slates. Led by Mary Parent and Josh Grode, Legendary will be part of a team at Library to fund local-language productions aimed to harness filmmaker talent and producers in each territory. Initial deals cover India, Latin America, and Spain, with Malaysia, Indonesia, South Korea, Vietnam, and China among the targeted territories for expansion.
“Given Legendary’s role as a pioneer of slate financing, Josh, Mary and the entire Legendary team bring unparalleled strategic knowledge coupled with a deep appreciation for international storytellers,” said David Taghioff, who leads Library from its Los Angeles headquarters. “They are an ideal partner in fueling Library’s continued growth as we collectively support content creators around the world.”
Said Legendary CEO Grode: “Library Pictures aims to fulfill a fundamental and overwhelming demand in local territories for filmed entertainment that simultaneously embodies and is authentic to those audiences. Not only do we have a unique opportunity to lift and empower new voices and local producers, but we can benefit economically by investing in and supporting these lucrative marketplaces.”
The deal was brokered by Sam Kozhaya on behalf of Legendary and CAA Media Finance on behalf of Library. Evolution Media Capital served as sole financial advisor to Library.
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