Accel Bets on Hollywood With $40 Million Legendary Pictures Deal

Accel Partners, the venture capital heavyweight known for betting on tech hits like Facebook, is going Hollywood: It has invested $40 million into Legendary Pictures, a production studio best known for “The Dark Knight.” The company has a seven-year output deal with Time Warner’s Warner Bros., which also happens to be streaming some of its movies on Facebook. So “the next time you pay to stream a Warner Bros. movie with Facebook credits, Accel will take a cut from both sides,” notes Forbes, which disclosed the deal in a story this afternoon.