News Release

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FOR IMMEDIATE RELEASE

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Lauren Brose

Lbrose@usc.edu

714-768-7463

May 1, 2014 

Legendary Entertainment Acquires Asylum Entertainment For Over $100 Million

From bringing larger than life depictions of graphic novels and comics onto the big screen to expanding film production to China, it comes as no surprise that Legendary Entertainment has recently acquired the television production company Asylum Entertainment.

Asylum Entertainment was founded in 2003 and has produced several lucrative projects such as the 10-time Emmy nominated and four-time winning television mini-series “The Kennedys.” It is most widely respected for its non-scripted television shows— notably the 10-time Emmy nominated Beyond the Glory— and also sports documentaries such as ESPN’s 30 for 30. Bought for a price north of $100 million, Legendary paid nearly 8 times as much as Asylum’s projected profits for this year. A strong predicator of Asylum’s owners’ decision to choose Legendary over other potential buyers were the objectives that Legendary’s CEO Thomas Tull has for their company’s future.

"We will keep the Asylum brand in addition to our already developed television and digital media division," Tull said. “I like their focus and it will only do things that will help broaden our scope as a television production sector.”

Legendary, known for producing high-budget films that fall within its fanboy focused brand, plans to diversify their television production division by maintaining the topical focus of Asylum Entertainment and using it as a complement to Legendary Television and Digital Media’s content. Although Legendary owns 100% of Asylum Entertainment, it will still continue to exist as a separate entity and serve as a production label for projects that fall within its area of focus. Asylum’s current president and CEO Steve Michaels and president and chief creative officer Jonathan Koch will continue to hold their positions but will report to Bruce Rosenblum, current head of Legendary’s Television and Digital Media division. Both sides of this business transaction are satisfied with the direction that Asylum and Legendary are moving together and only look forward to the growth they will make in what Tull considers to be “the golden age of television.”

Legendary Entertainment is a leading media company with film (Legendary Pictures), television and digital (Legendary Television and Digital Media) and comics (Legendary Comics) divisions dedicated to owning, producing and delivering content to mainstream audiences with a targeted focus on the powerful fandom demographic. Through complete or joint ownership, Legendary has built a library of marquee media properties and has established itself as a trusted brand which consistently delivers high-quality, commercial entertainment including some of the world's most popular intellectual property. In aggregate, Legendary Pictures-associated productions have realized grosses of more than $8 billion worldwide at the box office. To learn more visit: www.legendary.com

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