Leading media company Legendary Entertainment acquired the exclusive film and television rights to the video game franchise Street Fighter. Legendary Entertainment and Capcom will co-develop and co-produce all projects including a feature film which is already in development.

As per a Variety report, the franchise launched in 1987 has sold over 49 million units worldwide, becoming one of the most well-known and highest-grossing video game franchises of all time. It also spawned other games, various spin-offs and crossovers featuring characters like Ryu, Ken, Chung-Li, Guile and M. Bison. 

In 1994, Universal came out with an action film Street Fighter starring Jean-Claude Van Damme, Kylie Minogue, Ming-Na Wen and Raul Julia. Also, 20th Century Fox made Street Fighter: The Legend Of Chun-Li with Kristin Kreuk in 2009. However, none of them made a mark.

Capcom with its headquarter in Japan, is a leading developer, publisher, and distributor of interactive entertainment for game consoles, PCs, handheld and wireless devices. The company is known for other popular games, such as Resident Evil and Monster Hunter.