With the Berlin EFM less than one month away, Legendary Entertainment and veteran sales and entertainment executive Patrick Wachsberger have launched production and sales joint venture 193 to be led by Wachsberger.
The venture will develop and produce its own slate of features and work with third-party producers and financiers on projects at different stages of production to “amplify emerging filmmaking voices, selectively leveraging Legendary’s substantial financial, creative, production, and marketing resources”.
Legendary and Wachsberger will co-own the joint venture, named after the current number of territories that are available to buy film rights. Legendary’s Chief Marketing & Commercial Officer Blair Rich will drive marketing for 193 projects and will use “innovative marketing and data analysis technologies”.
193 is one of several growth initiatives identified by Legendary CEO Josh Grode and will complement legendary pictures, led by chair of worldwide production Mary Parent.
Wachsberger will continue to work on Picture Perfect Federation projects and look for opportunities for Federation Studios and 193 to work together on select international features and series.
In 2019 the industry veteran became partner and head of Picture Perfect Federation, the joint venture between Picture Perfect Entertainment and Federation Studios. Prior to that, he served as chairman of Lionsgate Motion Picture Group, joining in 2012 after Lionsgate acquired Summit Entertainment, the company behind the Twilight franchise. Wachsberger won the best picture Oscar in 2022 for producing Coda.
“This is an exciting moment for Legendary, as we continue to build on strong momentum and further diversify our film and TV portfolio,” said Grode. Wachsberger said, “Given the strong global demand for high-quality independent films, along with the input of Legendary’s world-class creative and production team, we are in a fantastic position for growth. 193 will bring exceptional stories from great filmmakers to audiences around the world.”
In October, Legendary bought out the remaining equity interest held by Wanda Group, leaving the company solely owned by management and Apollo. In 2024 the company’s Dune: Part Two and Godzilla X Kong: The New Empire earned more than $1.28bn at the global box office. Upcoming films include A Minecraft Movie starring Jason Momoa and Jack Black; live action-animation comedy Animal Friends with Ryan Reynolds, Momoa, Aubrey Plaza, and Dan Levy; a Street Fighter adaptation; the untitled Alejandro G. Iñárritu film starring Tom Cruise; and additional event films from Denis Villeneuve and the Monsterverse.
In 2019, Legendary became one of the principal financial partners in Library Pictures International, whose recent titles include Emilia Pérez, and I’m Still Here.
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