Softbank buys stake in Batman producer

SoftBank, the Japanese telecoms company founded by billionaire Masayoshi Son, has agreed to buy a stake in Legendary Entertainment, a US movie producer behind films such as the recent remake of Godzilla and The Dark Knight Rises.

The deal to pay $250 million (€200 million) for a near-10 per cent stake in Legendary came just days after reports that SoftBank’s talks to buy DreamWorks Animation had cooled. SoftBank and Legendary said they would form a joint venture to tap into growth in China and India markets by putting Legendary’s TV shows and movies on digital and mobile platforms.

SoftBank's Nikesh Arora, recently poached from Google and now chief executive of SoftBank's internet and media unit, will join Legendary's board.

– Copyright The Financial Times Limited 2014