Thomas Tull founded Legendary Entertainment after raising $500 million from private equity firms.

It is also one of the first companies of its kind to rival the major movie studios backed by Wall Street private shareholders 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, etc.

In 2005, Legendary Pictures signed a seven-year cooperation agreement with Warner Bros., which stipulated that both parties would jointly finance and produce 40 film and television works in the next seven years.

In 2010, Thomas Tull and two other investment companies: Fidelity Investments and Fortress Investment Group bought out all the shares of the original investors.

After the transaction was successful, Tal became the largest shareholder, making it easier to take charge of the company's management.

As of 2011, the company's estimated total assets have exceeded $1 billion.

In September 2011, the company's creative director: Jon Jashni was appointed as the new chairman of the board of directors.

In 2014, SoftBank announced that it would invest US$250 million in Legendary Pictures. The two parties will also establish a joint venture to expand the global digital content business and focus on developing the Chinese and Indian markets. Alora will join the Legendary Pictures board of directors.

On January 12, 2016, Legendary Pictures was acquired by China Wanda Group for US$3.5 billion in cash.

In addition to producing domestic films, Legendary Pictures has also announced that it is trying to develop other businesses, which are currently in the early stages of development.

As early as 2009, the company announced that it would establish a digital department that would be led by Kathy Vrabeck. The department's primary focus would be on game development, as the film industry grew out of the original video games.

As an independent company in the industry, this decision has surprised many industry analysts.

In 2010, the company announced the launch of a comics department called "Legendary Comics" under the leadership of chief editor: Bob Schreck.

The company has announced that Holy Terror, the first graphic novel created by Frank Miller, will be released in the fall of 2011.

In 2011, the company announced that its Television Creative Division would focus its efforts on developing television production.

The television production unit will be co-led by Jeremy Elice, a Warner Bros. deputy finance executive.

TV projects are reportedly in the works.

In 2011, the company announced the establishment of its new Legend Oriental Film and Television production company in Hong Kong.

50% of the new company will be held by the shell company Baohua Construction Group (Kelvin Wu, CEO of Legend Oriental, will hold some shares), 40% will be held by Legend Entertainment, and the remaining 10% will be held by Mainland China Film

Publisher Huayi Brothers International holds.

Beginning in 2013, Legend East will produce 1-2 English-language films for the global market each year and finance the production of two additional films per quarter.

Because the company is based on Chinese culture, it gives her the right to circumvent distribution quotas on some foreign films.

Legend Oriental is listed on the Hong Kong Stock Exchange with an initial market capitalization of $441 million.

The first step of the movie is titled "The Great Wall", directed by Zhang Yimou, starring Andy Lau, Matt Damon, etc., and is expected to be released in 2016.