SoftBank Corp. is investing $250 million in Legendary Entertainment, producer of the “Godzilla” film, gaining some online rights to the independent studio’s film, TV and merchandise businesses.

SoftBank will acquire 7.5 percent to 10 percent of Legendary, people with knowledge of the situation said, suggesting a valuation of more than $3 billion for the closely held studio. The Tokyo-based company may increase the investment to as much as $1 billion in two stages by 2018, said the people, who sought anonymity because the terms are private.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.