The company behind last spring’s “Godzilla vs. Kong,” one of the few pandemic era blockbusters, and the upcoming adaptation of “Dune,” has been in discussions to sell an equity stake or potentially merge its operations with another player. Bloomberg reported in April that Legendary had tapped investment bank LionTree LLC to explore possible deals, including merging with a special purpose acquisition company (Spac). That route, one that enlists a publicly traded shell company as a means to raise capital by tapping the market, has recently been favored by the likes of Bustle and Core Scientific. But talks appear to be heating up in recent weeks, with the company exploring something separate and apart from a Spac, according to insiders.
It may be getting fueled by the rise in deal-making in the entertainment sector.