Legendary Entertainment enters into a partnership with Patrick Wachsberger, the Oscar-winning producer of CODAto form a new production and distribution company called 193. Wachsberger, who was previously Chairman of Lionsgate Motion Picture Group, will become CEO of 193, which will focus on driving in-house film production and development and partnering with outside producers and financiers. It will handle global distribution rights for completed films and provide capital for projects in the early stages of development and production. Legendary and Wachsberger will jointly own 193, with Legendary's Blair Rich overseeing marketing for 193's projects.

Although Legendary is primarily known for blockbusters such as Dune and Godzilla the company also has experience in the area of independent film sales. In 2019, it became one of the main financing partners of Library Pictures International, a film financing organisation specialising in smaller productions. Wachsberger, who joined Lionsgate in 2012, also runs Picture Perfect Federation, a joint venture for the development and production of high-quality TV content.

Wachsberger expressed his enthusiasm for the new venture, highlighting the strong global demand for independent films and Legendary's creative expertise. The move comes as Legendary continues to expand following its purchase of Wanda Group's stake in October. Legendary's future projects include A Minecraft Movie and an as yet untitled film by Alejandro G. Iñárritu with Tom Cruise.