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Eros International merges with STX Entertainment

Entertainment major Eros International on Saturday announced an all-share merger with Hollywood’s STX Entertainment to create a new, publicly traded media company with operations across film, TV, streaming and other areas.

Founded in 1977, Eros International is one of the oldest companies in the Indian film industry to focus on the international market. The company co-produces, acquires and distributes Indian language films in multiple formats worldwide.

In a regulatory filing, Eros International said, its ultimate Parent Company, Eros International Plc  and STX Filmworks Inc have today entered into a definitive stock-for-stock merger agreement, pursuant to which STX Entertainment will merge with a newly formed subsidiary of Eros International Plc and will survive such merger as an indirect wholly owned subsidiary of Eros International Plc.

Founded in 2014, STX Entertainment is a leading independent Hollywood studio focused on producing, marketing, owning and distributing film and television content for global audiences across traditional and digital media platforms. It has so far done 34 movies including ‘Hustlers’ and ‘Bad Moms’.

The shareholders of STX International will ultimately receive shares of Eros International Plc as merger consideration. 

The combined company, to be called Eros STX Global Corporation, will have a robust pipeline of feature length films and episodic content with powerful, well-established positions in the world’s fastest-growth global markets. The combined company will be domiciled in Isle of Man, and have operations in the UAE, UK, India, US and rest of the world. 

Eros Now, the digital OTT entertainment service of Eros International, has digital rights to over 12,000 films, across Hindi and regional languages from Eros’s internal library as well as third party aggregated content

“The transaction is subject to regulatory approvals and closing conditions and is expected to close in the second calendar quarter of 2020,” the release stated.  

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