Legendary Entertainment and Universal ink deal

LOS ANGELES, July 10 (UPI) -- Hollywood's Universal Pictures and the production company Legendary Entertainment said Wednesday they have signed a five-year partnership.

The two companies will produce and co-finance Legendary and Universal films with Universal distributing Legendary films worldwide. The relationship will begin in 2014 after Legendary's deal with Warner Bros. expires.

Legendary's new partnership with Universal was announced Wednesday by Universal Pictures Chairman Adam Fogelson and Co-Chairman Donna Langley and Legendary Entertainment Chairman and Chief Executive Officer Thomas Tull.

"Comcast and NBCUniversal's global assets in film, television and theme parks offer Legendary unmatched breadth and opportunity to grow our business. We are delighted to be in business with this exceptional team and look forward to a successful partnership," Tull said in a statement.

"Legendary has demonstrated a keen ability to identify and acquire powerful fresh intellectual property based ideas, match them with strong filmmakers and turn them into blockbuster hits," Fogelson and Langley said in a joint statement.

"The Universal team is thrilled to have the opportunity to partner with Legendary in turning those ideas into the best and most successful versions of themselves around the world."

Legendary's films include the blockbusters "Inception," "The Hangover," "The Dark Knight Rises" and "Man of Steel."