Legendary Entertainment has submitted a takeover offer for Lionsgate after reviving talks with the Hollywood studio, according to Bloomberg.
Legendary, which is the producer behind the “Dune” and “Minecraft” film franchises, is owned by the private equity firm Apollo Global Management and company management. An acquisition would give the company access to Lionsgate’s vast library of film and television IP, including “The Hunger Games” and “John Wick” franchises, as well as a theatrical distribution network.
Its latest interest comes after Legendary first eyed a potential Lionsgate acquisition in July 2025. The outlet noted that the two companies have held on and off talks about a potential deal since then. It also follows continued pressure from the activist investor Anson Funds, which has urged Lionsgate to embrace AI or sell itself.
A Lionsgate spokesperson declined to comment, while representatives for Legendary and Apollo did not immediately return TheWrap’s request for comment.
In addition to Legendary, others who have previously expressed interest in Lionsgate but have not submitted formal takeover offers include Banijay, Mediawan and France’s Bollore Group.
Meanwhile, Netflix, which saw its $83 billion bid for Warner Bros. Discovery’s studio and streaming assets collapse earlier this year after declining to match a rival bid from David Ellison’s Paramount Skydance, previously told TheWrap it is not interested in acquiring Lionsgate.
Lionsgate, which has a market cap of approximately $3.6 billion, saw its shares jump over 15% during Tuesday’s trading session following the news. It currently trades at around $12.20 a share.