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STX Entertainment

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STX Entertainment
Company typePrivate
IndustryEntertainment
FoundedMarch 10, 2014;10 years ago(2014-03-10)
FounderRobert Simonds
Bill McGlashan
Headquarters
Burbank, California
,
United States
Key people
Robert Simonds
(Chairman)
Noah Fogelson
(CEO)
Services
OwnerJahm Najafi
(The Najafi Companies)
Divisions
Websitestxentertainment.com

STX Entertainmentis an American independent entertainment and media company. Founded in March 2014 by film producerRobert Simonds,the studio produces film, television, and digital media projects.

In April 2020, STX announced that it would merge with the Indian studioEros International plc.The merger was completed in July 2020, and STX became a division ofErosSTX.In December 2021,Jahm Najafiannounced his intention to acquire STX from the merged company for $173 million–a sale completed in April 2022. Eros remains a minority, non-voting shareholder.[1]

History[edit]

In 2012, Simonds and McGlashan began work on conceptualizing a media company based on the idea of producing medium-budget projects with a star attached, a method that had gone out of style with Hollywood studios. The conversation led to the launch of STX Entertainment in 2014, with the mission to finance, develop, produce, market, and distribute star-driven content around the world.[2][3]Investors in the company includedHony Capital,Tencent,PCCW,TPG Growth,RTL GroupandLiberty Global.Individual investors includeGigi Pritzker,Beau Wrigley,andDominic Ng.[4][5][6]

In September 2017, it was reported that STX was considering aninitial public offeringon theHong Kong Stock Exchange(SEHK). It was reported that a listing on the SEHK could bring STX closer to Chinese investors and audiences.[7]TheWall Street Journalstated that the company could be valued at $3.5 billion, after raising an additional $500 million following the IPO.[7][8]In April 2018, the company filed for an IPO on theHong Kong Stock Exchange.[9]

STX called off its IPO in October 2018, citing theChina–U.S. trade war,and conditions having deteriorated in Hong Kong due to turbulence in the mainland Chinese equity market.[10]An overall co-funding agreement with Chinese companyHuayi Brothers Medialapsed at the end of 2018,[11]and in April 2019, co-founder Bill McGlashan was fired due to his being indicted in thecollege admissions bribery scandal.[12]

In April 2020, STX announced that it would merge with the Indian film and television studioEros International plc.Simonds stated that the merger would create "the first independent media company with the expertise and creative cultures of Hollywood andBollywood,while also leveraging the important inroads both companies have made into the Chinese market. "The combined company would be publicly traded, inheriting Eros' listing on theNew York Stock Exchange.[13]The merger was closed on July 30, 2020;[14]the combined company unveiled a new logo and branding as ErosSTX in September.[15][16]The combined entity raised $125 million of new equity funding and received $350 million in credit led byJPMorgan.[17]

In December 2021, amid financial shortcomings following the merger,Jahm Najafi's Najafi Companies announced that it had reached an agreement to acquire STX Entertainment from ErosSTX for $173 million.[18]However, in late January 2022,Lionsgatealso emerged as a potential suitor, looking to absorb either part or whole of STX, but the deal was later rejected, leaving only Najafi as a potential suitor.[19][20]In April 2022, Najafi Companies completed its acquisition of STX Entertainment.Eros Media Worldwill retain a 15% non-voting stake in the company.[21][22]In July 2022, shortly after STX's motion picture chairman Adam Fogelson departed for the studio,Deadlinereported that STX was in talks with Lionsgate over a potential film distribution deal.[23]Shortly after, it was reported that STX Entertainment's U.K. offices, including the London office housing STXinternational's headquarters, were gradually shutting down.[24]Following the departure of STXinternational head John Friedberg to joinBlack Bear Pictures' international division, it was announced the latter company was nearing a deal with STX to handle part of its slate internationally.[25]In November 2022, It was reported that STX's distribution and marketing operations would be shuttered and thatOperation Fortune: Ruse de Guerrewould go to a streaming service domestically, alternatives being considered forThe Marsh King's Daughter,Lionsgate possibly taking over distribution forFerrariandGreenland: Migrationbeing packaged to other distributors.[26]By February 2023, It was reported thatLionsgatehad already taken domestic rights fromOperation Fortune: Ruse de Guerrewith plans to release it theatrically on March 3, 2023. In July 2023,Neonbought the distribution rights forFerrariwith Neon releasing it on December 25, 2023.

STX Films[edit]

Distribution[edit]

At launch, the film division of STX focused its efforts on creating a new model. Rather than pursuing the traditional distribution process, the company secured direct distribution agreements with North American theater chainsAMC,Regal,Cinemark,Goodrich,Marcus Theatres, and Carmike Cinemas.[27]In early 2015, the company signed a multiyear television output agreement to release films exclusively toShowtime Networksand its channelsShowtime,The Movie Channel,andFlixduring the premium television window. The deal covers STX Films theatrical releases through 2019.[28]In April 2015, the company entered into a multiyear partnership withUniversal Studios Home Entertainmentfor Universal to handle marketing, sales, and distribution services for Blu-ray, DVD, and VOD platforms for STX Films theatrical titles in North America.[29]Film distribution was transferred to Studio Distribution Services, LLC., a joint venture between UPHE andWarner Bros. Home Entertainment.That same month, STX Films closed a three-year slate deal withHuayi Brothers,one of China's largest film studios, enabling the companies to co-produce and co-distribute 12 to 15 films annually.[30][31][32]In January 2017, STX Films signed a marketing and distribution agreement withLuc Besson'sEuropaCorp Films USAto release their upcoming slate of films in the US.[33][34]In February 2018, STX Films announced it would distributeNetflixandMartin Scorsese's mob dramaThe Irishmanin China along withMedia Asia Entertainment Group.[35]

In May 2018, it was reported that STX would distribute and oversee production on Tencent Pictures and Free Association's film adaptation of the digital comic bookZombie Brother,to be directed byDavid Sandberg.[36]In July 2018, STX Films acquired domestic distribution rights to the civil rights dramaThe Best of Enemies;it starsTaraji P. HensonandSam Rockwell,is directed by Robin Bissell, and was released on April 5, 2019.[37]

In August 2023, STX formed a domestic distribution partnership withLionsgateto handle distribution of their upcoming slate of films and their current film library, starting withThe Marsh King's Daughter.[38]

Film projects[edit]

In line with its mission to make medium-budget, star-driven content, STX Films projects have includedHustlersstarringJennifer LopezandConstance Wu,[39]I Feel PrettystarringAmy Schumer,[40]Second Act,a romantic comedy starring Lopez and directed byPeter Segal,[41]Bad MomsstarringMila Kunis,Kristen BellandChristina Applegate;[42]Molly's Game,written and directed byAaron Sorkinand starringJessica Chastain;[43]The Gift,written, co-produced and directed byJoel Edgertonand starringJason BatemanandRebecca Hall;[44]The Edge of SeventeenstarringHailee Steinfeld;[45]The ForeignerstarringJackie ChanandPierce Brosnan;[46]Secret in Their EyesstarringChiwetel Ejiofor,Nicole KidmanandJulia Roberts;[47]The BoystarringLauren Cohan;[48]andFree State of JonesstarringMatthew McConaughey.[49]In 2015, STX Films acquired its first feature at theToronto International Film Festival,purchasing the worldwide rights to the sci-fi, action adventureHardcore Henryfor US$10 million.[50]

In 2017, STX Films announced its expansion into animation and family content with a partnership with theUglydollbrand. TheUglyDollsfilm was produced byRobert Rodriguez,director of theSpy Kidsfilm franchise, and it features the voices ofPitbull,Kelly Clarkson,Nick Jonas,Blake Shelton,andJanelle Monáe.[51][52]It performed poorly at the box office, and received a lot of bad reviews from the critics.[53][54]In January 2019, it was reported that STX is planning an animatedUglyDollstelevision series withHulu.

In January 2018, STX Films andTencent Picturesannounced a co-development deal withJason Stathamtargeting the Chinese film market. Statham starred inFurious 7andThe Fate of the Furious,China's two highest-grossing imported films ever.[55]In February 2018, STX Films signed a deal withAlibaba Picturesto co-develop and co-produce the action-sci-fi filmSteel Soldiers,produced byRobert Zemeckis.Under the deal, STX Films will handle US and international distribution with Alibaba Pictures retaining rights inGreater China.[56]

In January 2019, STX Films had their first number one box office opening withThe Upside,which starsKevin Hart,Bryan CranstonandNicole Kidman,and earned $19.59 million in its opening weekend,[57]and went on to earn over $100 million at the domestic box office.[58]STX earned praise for its efficient marketing of the film, and for trimmingThe Upsidefrom an R to PG-13 rating to widen its audience.[57]That month, it was reported that Hart is partnering with STX Films to produce and star in two comedies: a body switch comedy calledBlack Friday,and an untitled international romantic comedy.[59]

Hustlershad its world premiere at the 2019Toronto International Film Festival,and was theatrically released in the US on September 13, 2019. It grossed $105 million in the US and Canada, and $157.6 million worldwide.[39][60]The Gentlemen,written, directed and produced byGuy Ritchieand starringMatthew McConaughey,was released theatrically in January 2020. It grossed $115.2 million at the box office worldwide.[61]As of July 2020,upcoming STX films includeGreenlandstarringGerard Butler,Run Rabbit RunstarringElisabeth Moss,The GodmotherstarringJennifer Lopez,Night WolfstarringKevin Hart,andMusclestarringVin Diesel.[14][62]

Awards and recognition[edit]

In 2016, STX Films became the fastest studio ever to hit $100 million at the domestic box office with the R-rated comedyBad Moms.The film has earned more than US$180 million worldwide,[63]was the first R-rated comedy sinceThe Hangoverto get an A onCinemaScoreand was the most profitable film of the year (by net profit).[64]The film also earned aPeople's Choice Awardfor Best Comedy.[65]The 2017 American crime dramaMolly's Gamewas nominated for anAcademy Award for Best Adapted Screenplay[66]along withBAFTA,[67]WGA,[68]andGolden Globenominations.[69]The Edge of Seventeenwas nominated for anMTV Movie Award for Movie of the Year,[70]aDirectors Guild Award for Outstanding Achievement in a First-Time Feature[71]and aGolden Globe AwardforHailee Steinfeld.[72]On review aggregator websiteRotten Tomatoes,the film has an approval rating of 95%.[73]

Genre films have also received recognition. The psychological horror-thrillerThe Giftwas nominated for a Directors Guild Award for Outstanding Achievement in a First-Time Feature[74]and won aSitges Film Festival[75]andFangoria Chainsaw Award.[76]The Space Between UsstarringGary Oldmanwas nominated forChoice Sci-Fi MovieandChoice Sci-Fi Movie Actorat the2017 Teen Choice Awards.[77]The horror thrillerThe Bye Bye Manoverperformed industry expectations with a US$13.5 million domestic opening weekend.[78]The Foreigner,a co-production withJackie Chan's Sparkle Roll Media, crossed $100 million in global box office revenue in October 2017. The film is one of the most successful U.S. and China co-productions, being classified as "a clear winner given that it cost just $35 million" and "a fine example of how a Chinese co-production can work."[46][79][80]

In 2019,HustlersearnedJennifer LopeztheLos Angeles Film Critics Association Award for Best Supporting Actress[81]and award nominations including theGolden Globe Award for Best Supporting Actress,[82]Screen Actors Guild Award for Outstanding Performance by a Female Actor in a Supporting Role,[83]Critics' Choice Movie Award for Best Supporting Actress,[84]and theIndependent Spirit Award for Best Supporting Female.[85]

STX Films strives for female diversity in front of and behind the camera.[43]More than 20 films have featured women in leading roles or were directed by women.[86]

STX Television[edit]

The television division's first project was the 2014 drama-thrillerState of Affairs,starringKatherine HeiglandAlfre Woodard.The 13-episode series was developed by STX TV (as it is stylized) and sold toNBC.[87][88]In 2015, STX TV produced the NBC pilotProblem Child,based onthe 1990 film of the same name.[89]

In April 2016, STX TV expanded into unscripted and reality content, hiring veteran TV producerJason Goldberg.A few months later, the variety showNumber One Surpriselaunched, which was the first TV series created by a US-based company specifically for broadcast in China. The series premiere in November 2016 onHunan TV,a Chinese TV station, along with digital platformsMango TVandPPTV,was viewed nearly 300 million times, and by January 2017 it was the #1 show in China with over 1 billion views.[90][91]

In May 2017, STX TV announced it had acquired the first TV project fromKevin Kwan,author ofCrazy Rich Asians.[92]In August 2018,Amazon Studiosgave a script-to-series order for the untitled project, a globe-hopping drama set in Hong Kong, about a powerful family and their business empire.[93]In July 2017,E!greenlit the reality seriesThe Platinum Life,produced by STX TV and Tower 2 Productions.[94]In November 2017, STX TV announced its first scripted showValley of the Boom,a six-part docudrama series about the 1990s tech boom from showrunner and directorMatthew Carnahanand executive producerArianna Huffington.The show airs onNatGeo,with STX distributing in China.[95]It premiered on January 13, 2019.[96]STX Television produced season 23 ofTrue Life,which aired onMTVin 2017. The company also produced the docuseriesA Little Too Farr,following American country singer-songwriterTyler Farr,which premiered onVerizon'sgo90streaming service. In February 2018, Fox and STX TV announced that it is developing an unscripted series based on its filmBad Moms.[97]In April 2018, Mother Media Group, founded by formerEndemol Shineand20th Century Foxexecutives, signed a first-look deal with STX TV. Under the pact, the companies will collaborate to create, produce and distribute unscripted and hybrid series.[98]

In 2018, it was reported thatNetflixgave a six-episode series order to STX TV's hybrid docudrama miniseriesOttoman Rising,which tells the story ofMehmed the Conqueror;[99]later retitledRise of Empires: Ottoman,it premiered on Netflix on January 24, 2020.[100]It was also announced thatYouTube Redwill produce a TV spinoff based on STX's 2016 filmThe Edge of Seventeen,with an entirely new cast.[101]

STX Alternative[edit]

The digital division of STX Entertainment focuses on digital programming, partnerships and distribution, which includes live events andvirtual reality(VR). In August 2016, STX acquired the VR creator and distributor Surreal, renaming it STX Surreal.[102]In its first year (2015), Surreal produced over 70 immersive VR experiences[102]featuringGordon Ramsay,Snoop Dogg,Jon Hamm,Jimmy Kimmel,Wolfgang PuckandWiz Khalifaamong others.[103]

In 2017, STX Surreal was nominated for an interactiveDaytime Emmy Awardfor theNickelodeonshortNickelodeon's Ultimate Halloween Haunted House 360 Challenge[104]and won aShorty Awardfor Best Use of 360 Video for their 360° production of the68th Emmy Awards,in collaboration with theAcademy of Television Arts & SciencesandFacebook.[105]In June 2017, STX Surreal announced a partnership with media services agency Horizon Media to develop and produce VR and immersive content for the brand's new UNCVR unit.[106]In 2018, STX Surreal announced a slate of original projects includingNew Tricks,directed and produced byEd Helms;[107]The Kiev Exchange,a spin-off of STX Films'Mile 22;[107]Jay and Silent BobVR,written, produced, and directed byKevin Smith;[107]and untitled projects fromDave BautistaandDerek Kolstad.[107]

Robert Rodriguez's live-action short-formVRfilmThe Limit,starringMichelle Rodriguez,was released by STX Surreal on major mobile headsets and onAndroidphones with cardboard viewers in November 2018. It is also going to be released oniOS,PlayStation VR,andWindows Mixed Reality.[108][109]The Academy Award-winning visual effects studioDNEGworked on the film in post-production.[110]

In December 2017,Dick Clark Productionssold Chinese distribution rights to theGolden Globe AwardsandDick Clark's New Year's Rockin' Eveto STX Digital.[111][112]STX partnered withTencent Videoto be its distribution partner for both programs, including the production of a Chinese-language red carpet program for the Chinese feed of the Golden Globes.[113]

In December 2018, it was reported that the renamed division, now called STX Alternative, signed a first-look development and production deal withTracey Edmonds,to co-produce and co-develop scripted and unscripted content for traditional and alternative platforms. The first project,Games People Play,based on the bookGames Divas PlaybyAngela Burt-Murray,premiered onBETon April 23, 2019.[114][115]

STX International[edit]

In April 2016, a dedicated international division opened to further expand global production and distribution capabilities; it was called STX International. Headquartered in London, the division is led by formerFilm4headDavid Kosse.[116]The division launched with a slate of six films that includedAndy Serkis's directorial debutBreathe(which opened the 2017London Film Festival),[117]Home AgainstarringReese Witherspoon,and the thrillerWind RiverstarringJeremy RennerandElizabeth Olsen.[118]Additional titles on the slate includeRidley Scott'sAll the Money in the World,Neil Burger's thrillerThe Marsh King's Daughterand Bart Layton's heist filmAmerican Animals,along with titles from the main STX Films slate.[119]STX bought the international distribution rights toThe Irishmanfor $50 million. Renamed ErosSTX International following the merger of Eros International and STX in 2020, the company reverted back to its former name in April 2022 following STX's sale to Najafi Companies.

In July 2022, it was reported that STX Entertainment's U.K. offices, including the London office housing STXinternational's headquarters, were gradually shutting down.[120]

Film library[edit]

Film[edit]

Main article:List of STX Entertainment films

Television and digital[edit]

Title Channel Year Comment
State of Affairs NBC 2014–15 Co-produced withUniversal Television,Abishag Productions, and Aardwolf Productions
True Life MTV 2016 Co-produced the episodeTrue Life: We Are Orlando
Number One Surprise Hunan TV/Mango TV/PPTV 2016–present Co-produced with XG Entertainment
A Little Too Farr go90 2017 Co-produced with Tower 2 Productions
The Platinum Life E!
75th Golden Globe AwardsRed Carpet Show Tencent Video 2018 Co-produced withTencent
Alex Strangelove Netflix 2018 Originally meant to be distributed by STX, but ended up producing the film.
The Limit STX Surreal 2018 VR film directed by Robert Rodriguez
Valley of the Boom National Geographic Channel 2019 Co-produced with Matthew Carnahan Circus Productions
Games People Play BET 2019–2021 with Edmonds Entertainment
Flip It Like Disick E! 2019 with Tower 2 Productions, Disick Industries, Jenner Communications and Ryan Seacrest Prods.
Work It Netflix 2020 Streaming film
FBOY Island HBO Max/The CW 2021–present
The Gentlemen Netflix 2024 with Moonage Pictures, Toff Guy Films andMiramax Television
Lovers and Liars The CW 2024–present with TheYearOfElan Productions
Jay and Silent BobVR[121] STX Surreal TBA Co-production withView Askew Productions
UntitledDave BautistaSeries[121]
UntitledDerek KolstadProject[121]
New Tricks[121] Co-production with Pacific Electric Picture Co.
The Kiev Exchange[121] Co-production with Film 44 and Film 45
UntitledKevin Kwanand David Sangalli Scripted Series[122] TBA
UntitledBad Momsreality series[123] Fox TBA Co-produced withFox Alternative Entertainment

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  93. ^"Jet-setting Drama Series From 'Crazy Rich Asians' Author Kevin Kwan & STXtv In Works At Amazon".Deadline Hollywood.August 3, 2018.Archivedfrom the original on August 3, 2018.RetrievedFebruary 6,2019.
  94. ^Greg Evans,"E! Spins 'The Platinum Life': Reality Series With Music's Wives & Girlfriends"ArchivedAugust 14, 2019, at theWayback Machine,Deadline.com, July 20, 2017.
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External links[edit]

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