Eros International: Last News

EXCLUSIVE: There’s been a lot of biting rumors around STX Entertainment over the last four months, from a potential sale to Lionsgate to possibly filing Chapter 11. These are not coming to realizations as the Hustlers and Bad Moms studio can now breathe a sign of relief, having fulling closed its sale to The Najafi Companies with Birch Grove LP and 777 Partners now also providing financing.

Matt Donnelly Senior Film WriterSTX Entertainment is up for sale only 16 months after it merged with Indian studio Eros International.The combined entity, ErosSTX Global, announced Tuesday that it was engaged in talks with a third party to sell the division behind films like “Bad Moms” and Jennifer Lopez’s “Hustlers.” The company has hired Lazard as a financial advisor on the potential transaction. News of the sale coincided with a 28% dive for the publicly traded entity on the New York Stock Exchange.“[ErosSTX] has entered into exclusive negotiations with a third party for the sale of its STX Entertainment subsidiary, during which the parties will conduct mutual diligence and negotiate definitive agreements,” an announcement read.

STX Entertainment and Indian movie major Eros International have closed their stock-for-stock merger, forming film and TV company Eros STX Global Corp., which looks to play in Hollywood, Bollywood and China. The combined company "creates a financially robust global studio leader across three continents with strategic content and distribution partnerships for an unprecedented global footprint," Eros said in a statement on Thursday, as it announced completion of the deal.

Naman Ramachandran The merger of STX Entertainment and Indian studio Eros International, first announced in April, is now complete.The newly minted Eros STX Global Corporation is planning a brand and website launch in September 2020, accompanied by a bell-ringing event at the NYSE to launch a new ticker symbol. The company is also planning to host a virtual investor day later this year to provide detailed projected financial forecasts for the 2022-2024 period.Meanwhile, Eros International has declared its annual returns for the financial year ending March 2020.

By Dade Hayes

Bollywood distributor Eros International and Hollywood producer STX Entertainment’s newly announced merger could easily be viewed as a case of two unloved companies discovering common ground, wrapping their arms around each other and trying to make a fresh start.

When STX Entertainment unveiled ambitious plans in 2018 to make an initial public offering in Hong Kong —which, ultimately, didn't come to fruition — the company expected to raise $500 million at a target valuation of $3.5 billion. Last Friday, STX surprised the industry with news that it would be merging with Bollywood movie studio Eros International.

By Dade Hayes

By Manori Ravindran

Eros Now, the streaming arm of Indian film giant Eros International, is to add an English-language layer as part of a partnership with NBC Universal.

Gene Maddaus Senior Media WriterKanye West’s Yeezy, STX Entertainment, New Regency and Laemmle Theatres are among the companies that received loans from the Paycheck Protection Program, according to data released by the Small Business Administration on Monday.STX received $2-5 million on April 9, shortly before it announced it would merge with India’s Eros International. The company indicated that it used the funds to retain 100 jobs.Kanye West’s apparel company, Yeezy LLC, also reported receiving $2-5 million, and retaining 106 jobs.New Regency was approved on April 6 for a loan between $1-2 million, and retained 50 jobs.Village Roadshow also reported receiving $350,000 to $1 million, and retaining 26 jobs.