Jim Breyer buys $40M in Legendary shares (FORB, DH, VAR)
By Nancy Tartaglione
Accel Partners' Jim Breyer has made a $40 million investment in Thomas Tull's Legendary Pictures, according to a Forbes report. However, the $40 million does not equate to a new round of funding and was instead a buy of shares from a previous Legendary investor "whose identity is being kept secret," says Deadline.
Breyer will join Legendary's board as will former Walt Disney chairman Dick Cook, according to Deadline. Also on the board of the company, which has a seven-year, 40-picture deal with Warner Bros, is Joe Roth.
Breyer, who made a $12.7 million investment in Facebook when it had a $98 million valuation, has also previously sat on the board of Marvel Entertainment, "making his penchant for comicbook and genre fare fit in well with Tull's interest in producing high-profile tentpoles that target fanboys," Variety notes.
The list of films Legendary is bankrolling with Warner or is producing on its own includes the upcoming "Hangover Part II," "Wrath of the Titans," "The Dark Knight Rises," "Pacific Rim" and "Superman: Man of Steel."
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