Photo Credit: Getty Images
Paramount Pictures and Legendary Entertainment have sealed a new three-year worldwide distribution agreement that will see Paramount handle marketing and theatrical releases for Legendary’s films globally—excluding China, where Legendary East oversees distribution. The deal represents a significant strategic alliance for both companies and positions Paramount as a key partner in Legendary’s next slate of high-profile projects.
The first film under this new pact will be Street Fighter, co-produced with Capcom. Currently in production, the adaptation is based on the globally beloved and bestselling video game franchise that has spanned decades. The movie is being filmed for Imax and is set to hit theaters on October 16, 2026. Fans of the franchise will see this as the latest attempt to bring the arcade classic to life on the big screen, following earlier adaptations in the 1990s.
Josh Greenstein, Co-Chair of Paramount Pictures and Vice Chair of Platforms, alongside Dana Goldberg, Co-Chair of Paramount Pictures and Chair of Paramount Television, praised the deal, calling Legendary “a studio with a reputation for ambitious, globally appealing films.” They added, “Street Fighter is the perfect start to our collaboration, which we believe will be strong and lasting.”
The partnership was first reported in the spring, with Deadline noting that discussions were already underway prior to the Skydance-Paramount merger closing in August. For Paramount, the move comes as the studio continues to refine its film strategy amid industry consolidation and the increasing importance of franchise-building.
Warner Bros. Will, however, maintain its longstanding ties with Legendary on select franchises. Upcoming projects like Dune: Part Three, currently in production and slated for release in 2026, and Godzilla x Kong: Supernova, scheduled for 2027, will still be distributed by Warner Bros. This indicates that while Legendary diversifies its output through Paramount, its major franchises remain spread across multiple studio partners.
Legendary CEO Josh Grode described the Paramount deal as “an extraordinary opportunity” and emphasized that it aligns with the company’s “diversified growth strategy—expanding our output, building new franchises, and creating more films for global audiences.”
Legendary has enjoyed recent success with films like A Minecraft Movie—co-produced with Warner Bros. And starring Jack Black and Jason Momoa—alongside Dune and Dune: Part Two, which have cemented the studio’s reputation for adapting large-scale, fan-favorite properties. Its cinematic Monsterverse, which includes Godzilla x Kong, and earlier hits like Pokémon: Detective Pikachu and the Enola Holmes series, further highlight its track record in building internationally successful franchises.
With Street Fighter leading this new chapter with Paramount, both studios are signaling confidence in the enduring power of iconic IPs to draw global audiences. The deal also underscores the growing competition among studios to secure blockbuster-driven content in an evolving theatrical landscape.
