Thomas Tull exits Legendary Entertainment
The founder, chairman and CEO of the Wanda-owned creator of such tentpoles as the Dark Knight trilogy and March release Kong: Skull Island has resigned.
While reasons for the abrupt departure were not disclosed, The Hollywood Reporter, which broke the story, cited tensions between Tull and his Chinese paymasters over the former’s management approach.
Upcoming US release The Great Wall and Pacific Rim 2, which is shooting, were also highlighted as potential flashpoints. Warcraft, which Universal released in 2016, was a big hit in China but flopped in North America.
Tull formed Legendary in 2005 and guided it to become a co-financing and co-production studio partner – first with Warner Bros and more recently Universal – on a roster of heavyweight releases like the Pacific Rim franchise, Man Of Steel, and 300: Rise Of An Empire.
In 2016 he sold the company to Dalian Wanda Group in a deal reportedly worth $3.5bn.
Tull will stay involved as a producer on the Monsterverse films and Legendary projects based on Dune.
The Legendary slate of upcoming films includes Untitled eSports Movie starring Will Ferrell, Untitled Virtual Reality Project to be directed by Alejandro Gonzalez Inarritu, Detective Pikachu, Bad Blood starring Jennifer Lawrence, Skyscraper (Starring Dwayne Johnson, Godzilla: King Of Monsters, Kong Vs. Godzilla and Hot Wheels.
Upcoming TV properties include Downward Dog for ABC with ABC Studios, Colony for USA with Universal Cable Productions, Lost In Space and Love for Netflix, Carnival Row for Amazon, Looming Towers for Hulu, and Biopunk for USA Network.
Legendary has been a big success overall, hence the high price tag when it was sold.
It's helped studios balance their budgets, by sharing the risk, and reaped the rewards.
Lets see where it goes from here?