Legendary takes over Asylum
Legendary Entertainment has acquired 100% of Asylum Entertainment, the prodco behind The Kennedys (pictured) and Beverly Hills Pawn, for an undisclosed sum.
The takeover will see Asylum joining Legendary Television & Digital Media, the division of Legendary Entertainment charged with producing programming across multiple platforms on a global basis.
The acquisition will provide Legendary, which is focused on scripted entertainment, with a “broad-based and diverse production label which will expand into non-scripted, long-form, sports and other genres,” the company said in a statement.
Asylum Entertainment’s founders – co-president and CEO Steve Michaels and co-president and chief creative officer Jonathan Koch – will continue to operate Asylum as an independent company, reporting to Bruce Rosenblum, the president of Legendary Television and Digital Media.
“This is an exciting and significant acquisition for Legendary which confirms our commitment to building a global multi-dimensional television business,” said Rosenblum in a statement. “Asylum’s terrific track-record, relationships and current television content gives Legendary a base to expand and quickly diversify our television business.
“On a personal level, I am thrilled to be working with Steve and Jonathan, two executives who have thrived in an entrepreneurial environment, and I am confident that they will be ideal partners to our team.”
Asylum is currently in production on a feature documentary called Happy Valley, focusing on the sexual abuse scandal that recently hit Penn State University and its football program. The film will have its world premiere at Sundance in January.