Legendary Entertainment has completed a buyout of Wanda Group’s remaining equity interest in a move CEO Josh Grode said ushers in a new era for the studio.

Dune' production company Legendary Entertainment has bought out the stake previously owned by Chinese conglomerate Wanda Group.

Legendary Entertainment LLC is in advanced talks to buy out Dalian Wanda Group’s stake in the movie studio, people familiar with the matter said, as the Chinese conglomerate looks to unwind one of its most high-profile overseas acquisitions.

(Reuters) -Legendary Entertainment on Monday said it had completed a buyout of Chinese conglomerate Dalian Wanda Group's remaining stake in the movie studio and will be wholly owned by Apollo Global. Financial details of the deal were not disclosed by Legendary, the studio behind films such as "Dune" and "Godzilla vs. Kong".

Legendary Entertainment LLC, the studio behind movies such as Dune and Godzilla vs. Kong, has reached an agreement to purchase Dalian Wanda Group Co.’s stake in the company, confirming an earlier Bloomberg report.

Legendary has bought Chinese conglomerate Dalian Wanda Group's majority stake in the studio, the company announced Monday. Why it matters: The deal puts Legendary back in full con

The 'Dune' and 'Godzilla' studio had been owned by Wanda since 2016, with Apollo joining as a minority investor in 2022.

Legendary Entertainment has bought out Chinese multinational conglomerate Wanda Group's remaining 60% equity interest in the studio known for the "Dune" and "Godzilla" franchises. The transaction was funded entirely by Legendary using cash on its balance sheet.