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,” according to Legendary. The new company “will develop and produce its own films and work with third-party producers and financiers, represent global distribution rights for completed films and provide capital and early sales activities for projects in their early stages.” Legendary and Wachsberger will jointly 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 significant financial, creative, production and marketing resources. Leveraging the year-round international sales momentum, 193 will immediately begin growing its slate, trading both on and between established sales markets,” according to Tuesday’s press release. It will complement Legendary Pictures’ Chairman of Worldwide Production Mary Parent. Legendary’s Chief Marketing & Commercial Officer Blair Rich will oversee marketing for 193 projects, “considering territory nuances as well as the use of innovative marketing and data analytics techniques.”
While Legendary is known for top-tier blockbusters 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 main financial partners of Library Pictures International, an entity focused on lower-budget independent films. The library’s recent films include Netflix’s Golden Globe juggernaut “Emilia Pérez” and Walter Salle’s “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 partner with him on this new standalone venture and know that 193 will be a leader in bringing the highest 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 proud to launch this new venture together with 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 input from Legendary’s world-class creative and production team, we are in a great position for growth. 193 will bring outstanding stories from great filmmakers to audiences around the world.”
As a producer, Wachsberger won an Academy Award for Best Picture for “Coda.” In 2019, he became a partner and director of Picture Perfect Federation, a joint venture between Picture Perfect Entertainment and the premier international studio Federation Studios dedicated to developing and producing premium television content for the US and international markets. Prior to that, he was chairman of Lionsgate Motion Picture Group, joining the company when it acquired Summit Entertainment.
193 is the latest big move by Legendary, which in October, using cash from “Dune” and “Godzilla x Kong,” bought out the remaining stake in the company owned 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 (who recently left Sony for Warner Bros.); and an upcoming Alejandro G. Iñárritu film starring Tom Cruise that recently began filming in London that will be released on October 6, 2026.
