ErosSTX

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ErosSTX Global Corporation
FormerlyEros International plc
TypePublic limited company
NYSE: ESGC (Class A)
Russell 2000 Component
IndustryMedia and entertainment
PredecessorSTX Entertainment
Eros International plc
Founded2020
HeadquartersBurbank, California, USA
Mumbai, Maharashtra, India
Area served
Worldwide
Key people
  • Robert Simonds (Executive chairman and CEO)
  • Kishore Lulla (Executive chairman)
  • Rishika Lulla Singh (co-president)
  • Noah Fogelson (co-president)
  • Andrew Warren (chief financial officer)
ProductsMotion pictures
Television
Digital
ServicesMotion picture production and distribution
Television production and distribution
RevenueIncrease US$ 270.1 million[1] (FY 2019)
Increase US$ 63.9 million[2] (FY 2018)
Increase US$ 126.5 million[2] (FY 2018)
Total assetsIncrease US$ 1.09 billion[1] (FY 2019)
Total equityIncrease US$ 661.7 million[1] (FY 2019)
Number of employees
340[3][4] (2020)
DivisionsSTX Films
STX Television
STX Alternative
ErosSTX International
Eros Motion Pictures
Eros Now
Websiteerosstx.com

ErosSTX Global Corporation[5] is an Indian-American multinational media company that acquires, produces, and distributes films, television shows, and digital content. It is a merger of the Indian film and entertainment studio Eros International plc, and the American mini-major film studio STX Entertainment. The company is domiciled in the Isle of Man, and its main offices are in Burbank, California and Mumbai, Maharashtra, India.[6]

The company is led by co-chairmen Kishore Lulla (son of Eros founder Arjan Lulla) and Robert Simonds, STX chairman and CEO.[7][8]

History[]

Eros International plc was founded by Arjan Lulla and Kishore Lulla in 1977 as an Indian film and television production and distribution company.[7] The company launched its ErosNow OTT service in 2012, which by 2020 had 36.2 million paid subscribers[9] and the largest library of Indian content in the world.[10] Eros International plc became the first Indian media company to list on the Alternative Investment Market (AIM) of the London Stock Exchange. Subsequently, the company delisted from AIM in November 2013 to list on the New York Stock Exchange.[11]

STX Entertainment was founded by Robert Simonds and Bill McGlashan in 2014 as an American mini-major film, television, and digital media studio. By April 2020, STX had released 34 films, which earned over US$1.5 billion in global box office, with hits including Bad Moms, Hustlers, and The Upside.[10]

After first being announced in April 2020, the merger of Eros International and STX Entertainment was completed on July 30, 2020, with the company now called ErosSTX Global Corporation.[6] The merged company is publicly traded on the New York Stock Exchange, with the combined firm listed as ESGC.[12]

On 7 December 2021, Jahm Najafi's Najafi Companies announced that it had reached an agreement to acquire STX Entertainment from ErosSTX for US$173 million. The deal is subject to a 45-day period where ErosSTX may solicit other offers; if ErosSTX declines the offer, it must pay a $4.5 million breakup fee.[13]

Management[]

Robert Simonds serves as ErosSTX's co-chairman and CEO, Kishore Lulla is executive co-chairman, and Rishika Lulla Singh and Noah Fogelson are co-presidents. Andrew Warren serves as chief financial officer.[6]

ErosSTX's board of directors is composed of Robert Simonds, Kishore Lulla, Rishika Singh, Shailesh Rao, Dhirendra Swarup, Nick Stone, Dilip Thakkar, and John Zhao.[6]

Divisions[]

Division name Country Founded Description
Eros Motion Pictures India 1977 Indian film production and distribution company
Eros Now India 2012 Indian subscription-based over-the-top, video on demand entertainment and media platform
STX Films United States 2014 American film production, distribution and marketing company
STX Television United States 2014 American television production studio
STX Alternative United States 2015 American development and production company for digital, non-scripted, and hybrid programming, including streaming and short-form platforms
ErosSTX International India 2016 International film distribution and financial company focusing on Hollywood and Bollywood productions, with direct distribution in India, the UK, Ireland and the Middle East

References[]

  1. ^ a b c "Eros International Plc Reports Fourth Quarter and Fiscal Year End 2019" (Press release). Eros International. July 15, 2019. Retrieved December 11, 2020 – via Business Wire.
  2. ^ a b "Eros International Plc Reports Strong Revenue and Profit Growth in FY 2018" (Press release). Eros International. June 27, 2018 – via Business Wire.
  3. ^ "How strong is Eros International Number of Employees?". Macroaxis.
  4. ^ "Eros STX Global Corp - Company Profile and News". Bloomberg L.P. Retrieved October 17, 2020.
  5. ^ "Eros International Plc Announces Corporate Name Change to ErosSTX Global Corporation" (Press release). ErosSTX International. September 11, 2020. Retrieved September 23, 2020 – via Business Wire.
  6. ^ a b c d "STX Entertainment and Indian Studio Eros International Complete Merger". Variety. July 30, 2020. Retrieved December 11, 2020.
  7. ^ a b Hayes, Dade (July 30, 2020). "Eros And STX Close Merger, Plan New York Stock Exchange Debut In September, Eye $1B In Revenue By 2022". Deadline. Retrieved July 30, 2020.
  8. ^ Hayes, Dade (April 17, 2020). "STX Merges With India's Eros International, Forming New Public Media Company". Deadline. Retrieved April 18, 2020.
  9. ^ "Eros Now Reaches 36.2 million Paying Subscribers" (Press release). ErosSTX International. November 18, 2020 – via Business Wire.
  10. ^ a b "Eros India CEO Explains STX Merger Logic: "The Bigger Story Is on the OTT Side"". The Hollywood Reporter. April 22, 2020. Retrieved December 11, 2020.
  11. ^ "Eros International Plc". London Stock Exchange. September 18, 2013. Retrieved April 28, 2015.
  12. ^ "STX-Eros Merger Closes, Creating Global Content and Streaming Player". The Hollywood Reporter. July 30, 2020. Retrieved December 11, 2020.
  13. ^ "STX Separating From Eros As Najafi Companies Enters $173M Agreement To Acquire Hollywood Studio". Deadline. December 7, 2021. Retrieved December 7, 2021.{{cite web}}: CS1 maint: url-status (link)

External links[]

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