‘Dune’ Studio Sells Stake to Japan’s TBS at $4 Billion Valuation

Legendary Entertainment, producer of Dune and A Minecraft Movie, formed a strategic partnership with Tokyo-based broadcaster TBS Holdings Inc. to develop Japanese stories into global film and TV properties.

TBS, parent of the Tokyo Broadcasting System, will acquire a $150 million stake in Legendary, according to a statement from the companies. The shares are being acquired from Apollo Global Management Inc. and Legendary’s leadership and value the company at more than $4 billion, according to a person with knowledge of the matter.

Legendary aims to capitalize on the growing market for Japanese stories. Its film Godzilla x Kong: ...