Legendary Pictures in Early Talks to Acquire Lionsgate
Legendary Entertainment, the studio behind Dune, The Dark Knight, and the Monsterverse, is reportedly exploring a big move by acquiring Lionsgate Studios.
According to Bloomberg, talks are still in the early stages, but this potential acquisition could seriously shake up the entertainment landscape. Legendary, known for working alongside major players like Warner Bros. and Netflix, is feeling out a possible long-term partnership with Lionsgate before making any major commitments.
One insider told Bloomberg that Legendary is exploring the possibility of partnering with Lionsgate on a number of projects to figure out whether they can effectively work together.
This isn’t Legendary’s first swing at expansion. After parting ways with Wanda Group in 2024 and becoming an equal-share partner with Apollo Global Management, CEO Josh Grode made it clear that the company was shifting into aggressive growth mode. He hinted at pursuing billion-dollar takeovers, and for a while, there were even whispers about a potential play for Paramount. But now it looks like their eyes are on Lionsgate.
Lionsgate brings a stacked deck of IP to the table and they include John Wick, The Hunger Games, Twilight, Saw, and Dirty Dancing, just to name a few. There’s also Lionsgate’s 20,000-title deep film and TV library.
It’s also fresh off a split from Starz, the streaming and TV platform it acquired in 2016. That separation became official in May 2025, which is reportedly when Legendary first approached the studio. So far, reps for both companies have stayed quiet, declining to confirm or deny any negotiations.
Still, the market seems intrigued. Following news of the possible buyout, Lionsgate shares jumped nearly 20%, closing with a market cap just under $2 billion.
If things go well with their joint projects, Legendary might just make an official move to bring Lionsgate into its growing empire.