Lead: On September 4, 2025, Paramount Pictures announced a three-year distribution agreement with Legendary Entertainment, naming the studio-backed live-action Street Fighter film as the first title to be released under the partnership.
Key Takeaways
- The deal runs for three years and pairs Paramount with Legendary for theatrical distribution.
- Street Fighter is slated as the first release under the arrangement.
- Paramount executives Josh Greenstein and Dana Goldberg publicly welcomed the collaboration.
- Legendary CEO Josh Grode framed the pact as part of a diversified growth strategy.
- Warner Bros. will still distribute certain existing Legendary franchises, including Dune: Part Three (2026) and Godzilla x Kong: Supernova (2027).
- Negotiations reportedly began this spring before the Skydance–Paramount merger closed in August 2025.
Verified Facts
Paramount and Legendary have reached a three-year distribution deal announced on September 4, 2025. The agreement names the upcoming live-action Street Fighter adaptation as the first film the companies will release together. Paramount executives Josh Greenstein (Co-Chair of Paramount Pictures, Vice Chair of Platforms) and Dana Goldberg (Co-Chair of Paramount Pictures, Chair of Paramount Television) commented on the strategic partnership.
Legendary CEO Josh Grode described the arrangement as an opportunity to expand output and develop new franchises for global audiences. The companies emphasized that this collaboration is intended to be a long-term working relationship focused on large-scale theatrical films.
Warner Bros. will retain distribution duties for select Legendary properties, specifically Dune: Part Three, which is scheduled for release in 2026 while currently in production, and Godzilla x Kong: Supernova, slated for 2027, among other titles. Recent Legendary releases referenced by the companies include A Minecraft Movie, Dune and Dune: Part Two, entries in the MonsterVerse such as Godzilla x Kong, Pokémon: Detective Pikachu, and the Enola Holmes films.
Context & Impact
The deal arrives after industry-wide consolidation and follows the completion of the Skydance–Paramount merger in August 2025. Sources say initial conversations between Paramount and Legendary began this spring, indicating a deal-making process that accelerated in recent months.
For Paramount, the pact expands its distribution slate with globally oriented tentpoles; for Legendary, it opens a new theatrical partner to help scale international reach. The arrangement may affect release planning and marketing budgets across multiple studios, especially for tentpole and franchise titles.
Possible short-term impacts include adjustments to marketing windows, international release strategies, and collaborative production financing. Over the longer term, the partnership could shape franchise development pipelines and cross-studio licensing decisions.
Legendary has built a reputation for ambitious, globally appealing films, and we’re excited to be partnering with them. Street Fighter is the perfect start to our collaboration, which we believe will be strong and lasting.
Josh Greenstein & Dana Goldberg, Paramount Pictures
Partnering with David, Dana and Josh and their teams at Paramount marks an exciting new chapter for Legendary as we continue to pursue a diversified growth strategy — expanding our output, building new franchises and creating more films for global audiences.
Josh Grode, CEO, Legendary Entertainment
Explainer
Unconfirmed
- Exact financial terms and revenue-sharing details of the three-year deal have not been disclosed publicly.
- Whether the pact covers all Legendary films produced during the period or only select titles beyond Street Fighter is not specified.
- Any changes to existing co-production financing or distribution agreements with other studios have not been confirmed.
Bottom Line
This three-year distribution agreement pairs Paramount’s distribution infrastructure with Legendary’s franchise-focused production slate, with Street Fighter positioned as the immediate priority. The deal underscores continued reshuffling in studio partnerships after recent mergers and will likely influence release plans for major tentpoles through 2027.