In 2014, Legendary acquired the television producer Asylum Entertainment, which made ESPN's 30 for 30 and miniseries The Kennedys, for $100 million, but Asylum Entertainment will continue operating as a separate company. The transaction increased the company's total value to around $3 billion. In October 2014, SoftBank bought $250 million shares in Legendary for a 10% stake. In July 2013, Legendary reached an agreement with Universal Pictures in which it would market, co-finance, and distribute Legendary's films for five years starting in 2014, the year that Legendary's similar agreement with Warner Bros. In December 2012, Waddell & Reed bought around 20% of Legendary's shares for $443 million. In September 2011, Chief Creative Officer Jon Jashni was appointed to the new position of President. That same year the company was reported to have been valued at more than $1 billion. In 2011, Accel Partners bought $40 million-worth of shares and Accel partner Jim Breyer joined the company's board of directors. Golden Harvest later sold its stake in the company for $30 million.

Following the transaction, Tull became the largest shareholder, thus enabling him to more easily direct the company's operations. The buyout also included a $25 million investment by Orange Sky Golden Harvest Entertainment. In 2010, Tull, Fidelity Investments, and Fortress Investment Group bought all the shares of the original investors. to co-produce and co-finance up to 40 films over seven years. was incorporated in California in 2000 and in 2005 it signed an agreement with Warner Bros. It was one of the first companies of its kind to pair major motion picture production with major Wall Street private equity and hedge fund investors, including ABRY Partners, AIG Direct Investments, Bank of America Capital Investors, Columbia Capital, Falcon Investment Advisors, and M/C Venture Partners. Thomas Tull founded Legendary Entertainment along with co-founders Scott Mednick and William Fay after raising $500 million from private equity firms.

Since 2016, Legendary has been a subsidiary of the Chinese conglomerate Wanda Group and Apollo. Pictures, Universal Pictures, Sony Pictures, 20th Century Studios and Paramount Pictures, as well as streaming services such as Netflix and Hulu. The company has collaborated with many major studios, including Warner Bros. Legendary Entertainment (also known as Legendary Pictures or simply Legendary) is an American film production and mass media company based in Burbank, California, founded by Thomas Tull along with Scott Mednick and William Fay in 2000.

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