Legendary Entertainment Forms 193, a New Stand-Alone Independent Venture
Legendary Entertainment has expanded its presence in global independent film with the formation of 193, a new stand-alone joint venture to be run by producer and executive Patrick Wachsberger, who will serve as the company’s new CEO.
193 is described as “a global production and sales entity designed to capitalize on high demand for quality films for the independent market,” per Legendary. The new company “will develop and produce its own slate of films, and work with third-party producers and financiers, representing global distribution rights for completed films and providing capital and early territory sales activities for projects in their early stages.” Legendary and Wachsberger will co-own 193.
The new company is one of several ongoing growth initiatives for Legendary under CEO Josh Grode. 193 “offers a platform to identify and amplify emerging filmmaking voices, selectively leveraging Legendary’s substantial financial, creative, production and marketing resources. Harnessing the year-round cadence of international sales, 193 will immediately begin cultivating its slate, transacting both at and between established sales markets,” according to the Tuesday press release. It will complement Legendary Pictures, led by chair of Worldwide Production Mary Parent. Legendary’s Chief Marketing & Commercial Officer Blair Rich will oversee the marketing for 193 projects, “with consideration for territory nuances as well as the employment of innovative marketing and data analysis technologies.”
While Legendary is known for top-tier blockbuster features like Denis Villeneuve’s “Dune” films, Guillermo del Toro’s “Pacific Rim” and the recent slate of stateside Godzilla movies (most recently, last year’s “Godzilla x Kong: The New Empire”), in 2019 they became one of the principal financial partners in Library Pictures International, an entity focused on lower-budget independent films. Library’s recent films include Netflix’s Golden Globes juggernaut “Emilia Pérez” and Walter Salles’ “I’m Still Here.”
“I have known and worked with Patrick dating back to Summit Entertainment,” Grode said in an official statement. “We are excited to be partnering with him in this new stand-alone venture and know that 193 will be a leader in bringing top-quality films to markets around the world. This is an exciting moment for Legendary, as we continue to build on strong momentum and further diversify our film and TV portfolio.”
Wachsberger added, “I am thrilled to launch this new venture alongside Legendary, which has delivered many of the industry’s most compelling and successful films in recent years. Given the strong global demand for high-quality independent films, along with the input of Legendary’s world-class creative and production team, we are in a fantastic position for growth. 193 will bring exceptional stories from great filmmakers to audiences around the world.”
As a producer, Wachsberger won the Best Picture Oscar for “Coda.” In 2019, he became partner and head of Picture Perfect Federation, a joint venture between Picture Perfect Entertainment and top international studio Federation Studios dedicated to developing and producing premium television content for the U.S. and international markets. Before that he was chairman of the Lionsgate Motion Picture Group, joining the company when they purchased Summit Entertainment.
193 is the latest big move by Legendary, which in October, flush with cash from “Dune” and “Godzilla x Kong,” bought out the remaining equity interest in the company held by Wanda Group. Now, Legendary is owned by Apollo. Upcoming projects include “A Minecraft Movie,” released by Warner Bros.; “Animal Friends,” with Ryan Reynolds and Jason Momoa (which recently went from Sony to Warner Bros.); and an upcoming Alejandro G. Iñárritu film starring Tom Cruise that recently started shooting in London that will be out on Oct. 6, 2026.
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