Tokyo telecom giant SoftBank Corp. will invest $250 million in Burbank’s Legendary Entertainment in a deal that values the studio at roughly $3 billion, according to a report.

SoftBank will receive between a 7.5 percent and 10 percent stake in Legendary in exchange for the cash, Bloomberg News reports.

The Japanese company had also been in discussions with Glendale’s DreamWorks Animation over a possible acquisition, according to reports earlier this week.

The investment firm also acquired rights to certain revenue streams for Legendary properties, according to a statement on the studio’s website.

“The two companies will also form a joint venture to exploit Legendary’s intellectual property rights, including in television, digital, licensing and merchandising and other ancillary lines, across various ‘over-the-top’/mobile platforms with a particular focus on the burgeoning China and India markets,” the statement reads.

Legendary’s summer tentpole “Godzilla” has earned nearly $525 million at the box office so far this year.

The Hollywood Reporter first reported that a deal between SoftBank and Legendary was in the works.