Houlihan Lokey Advises TBS Holdings

Houlihan Lokey is pleased to announce that TBS Holdings, Inc. (TBS) has made a strategic minority investment in Legendary Entertainment (Legendary), a U.S.-based film and television production company with a strong track record in large-scale Hollywood productions.

Established in Tokyo, Japan, TBS is the holding company of the TBS Group, one of Japan’s most established and influential media groups, which includes TBS Television, a leading national broadcasting network. Through its broadcasting and content businesses, TBS has developed a strong track record in content planning, production, and intellectual property (IP) origination, and has actively pursued initiatives to expand its content business globally.

Legendary is a U.S.-based leading media company in Hollywood with film, television, and digital and comics divisions dedicated to owning, producing, and delivering content to worldwide audiences. The company is widely recognized for its ability to translate well-known, fan-driven IP into high-quality live-action films and globally successful franchises.

This deal connects TBS with a studio that has built and scaled global franchises, including Dune, multiple titles in the cinematic Monsterverse, and Minecraft, underscoring Legendary’s ability to translate major IP into worldwide hits. It is part of a broader strategy for Legendary to expand its business with companies in key markets that have meaningful IP and deep roots in their local markets, and for TBS to expand its content and production capabilities beyond Japan for global exploitation of its content and intellectual property.

Houlihan Lokey acted as the exclusive buyside financial advisor to TBS, having led a comprehensive deal process. This successful outcome underscores Houlihan Lokey’s deep expertise in the media sector and reflects its strong relationship with the client, which has now resulted in a second transaction following last year’s engagement.

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