STX Merges With India’s Eros International, Forming New Public Media Company
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deadline.comBy Dade Hayes Finance Editor STX Entertainment, founded in 2014 as a star-driven, movie-focused operation, is merging with India’s Eros International to form a new, publicly traded media company with operations across film, TV, streaming and other areas.
The all-stock deal will give the new entity what a press release described as a “revamped” capital structure, with $125 million of incremental equity from new and existing STX Entertainment equity investors TPG, Hony Capital and Liberty Global.
The company will also have a $350 million JP Morgan-led credit facility. The newly constituted management team will be led by Kishore Lulla as Executive Co-Chairman, Robert Simonds as Co-Chairman & Chief Executive Officer, Andrew Warren as Chief
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