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| Company type | Private |
|---|---|
| Industry | Entertainment |
| Founded | March 10, 2014; 11 years ago (2014-03-10) |
| Founder | Robert Simonds Bill McGlashan |
| Headquarters | , United States |
Key people | Robert Simonds (chairman) Noah Fogelson (CEO) |
| Services | |
| Owner | Jahm Najafi |
| Parent | The Najafi Companies |
| Divisions | |
| Website | stxentertainment |
STX Entertainment is an American independent entertainment and media company. Founded in March 2014 by film producerRobert Simonds andTPG Growth managing partnerBill McGlashan, the studio produces film, television, and digital media projects.
In April 2020, STX announced that it would merge with the Indian studioEros International. The merger was completed in July 2020, and STX became a division ofErosSTX. In December 2021,Jahm Najafi announced 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]
In 2012, Simonds and McGlashan began work on conceptualizing a media company based on the idea of producing medium-budget star-driven projects, a method that had gone out of style with Hollywood studios. The conversation led to the launch of STX Entertainment in 2014 (the "S" standing for Simonds, the company's founder; the "T" standing forTPG Growth, whose managing partner McGlashan helped launch the company; and the "X" standing for "secret project"),[2] with the mission to finance, develop, produce, market, and distribute star-driven content around the world.[3][4] Investors in the company includedHony Capital,Tencent,PCCW, TPG Growth,RTL Group andLiberty Global. Individual investors includeGigi Pritzker,Beau Wrigley, andDominic Ng.[5][6][7]
In September 2017, it was reported that STX was considering aninitial public offering on theHong Kong Stock Exchange (SEHK). It was reported that a listing on the SEHK could bring STX closer to Chinese investors and audiences.[8] TheWall Street Journal stated that the company could be valued at $3.5 billion, after raising an additional $500 million following the IPO.[8][9] In April 2018, the company filed for an IPO on theHong Kong Stock Exchange.[10]
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.[11] An overall co-funding agreement with Chinese companyHuayi Brothers Media lapsed at the end of 2018,[12] and in April 2019, co-founder Bill McGlashan was fired due to his being indicted in thecollege admissions bribery scandal.[13]
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.[14] The merger was closed on July 30, 2020;[15] the combined company unveiled a new logo and branding as ErosSTX in September.[16][17] The combined entity raised $125 million of new equity funding and received $350 million in credit led byJPMorgan.[18]
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.[19] However, in late January 2022,Lionsgate also 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.[20][21] In April 2022, Najafi Companies completed its acquisition of STX Entertainment.Eros Media World will retain a 15% non-voting stake in the company.[22][23] In July 2022, shortly after STX's motion picture chairman Adam Fogelson departed for the studio,Deadline reported that STX was in talks with Lionsgate over a potential film distribution deal.[24] Shortly after, it was reported that STX Entertainment's U.K. offices, including the London office housing STXinternational's headquarters, were gradually shutting down.[25] 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.[26] In November 2022, It was reported that STX's distribution and marketing operations would be shuttered and thatOperation Fortune: Ruse de Guerre would go to a streaming service domestically, alternatives being considered forThe Marsh King's Daughter, Lionsgate possibly taking over distribution forFerrari andGreenland 2: Migrationbeing packaged to other distributors.[27] By February 2023, It was reported thatLionsgate had already taken domestic rights fromOperation Fortune: Ruse de Guerre with plans to release it theatrically on March 3, 2023. In July 2023,Neon bought the distribution rights forFerrari with Neon releasing it on December 25, 2023.
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.[28] In early 2015, the company signed a multiyear television output agreement to release films exclusively toShowtime Networks and its channelsShowtime,The Movie Channel, andFlix during the premium television window. The deal covers STX Films theatrical releases through 2019.[29] In April 2015, the company entered into a multiyear partnership withUniversal Studios Home Entertainment for Universal to handle marketing, sales, and distribution services for Blu-ray, DVD, and VOD platforms for STX Films theatrical titles in North America.[30] 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.[31][32][33] In January 2017, STX Films signed a marketing and distribution agreement withLuc Besson'sEuropaCorp Films USA to release their upcoming slate of films in the US.[34][35] In February 2018, STX Films announced it would distributeNetflix andMartin Scorsese's mob dramaThe Irishman in China along withMedia Asia Entertainment Group.[36]
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 by David Sandberg.[37] In July 2018, STX Films acquired domestic distribution rights to the civil rights dramaThe Best of Enemies; it starsTaraji P. Henson andSam Rockwell, is directed by Robin Bissell, and was released on April 5, 2019.[38]
In August 2023, STX formed a domestic distribution partnership withLionsgate to handle distribution of their upcoming slate of films and their current film library, starting withThe Marsh King's Daughter.[39]
In line with its mission to make medium-budget, star-driven content, STX Films projects have includedHustlers starringJennifer Lopez andConstance Wu,[40]I Feel Pretty starringAmy Schumer,[41]Second Act, a romantic comedy starring Lopez and directed byPeter Segal,[42]Bad Moms starringMila Kunis,Kristen Bell,Kathryn Hahn andChristina Applegate;[43]Molly's Game, written and directed byAaron Sorkin and starringJessica Chastain;[44]The Gift, written, co-produced and directed byJoel Edgerton and starringJason Bateman andRebecca Hall;[45]The Edge of Seventeen starringHailee Steinfeld;[46]The Foreigner starringJackie Chan andPierce Brosnan;[47]Secret in Their Eyes starringChiwetel Ejiofor,Nicole Kidman andJulia Roberts;[48]The Boy starringLauren Cohan;[49] andFree State of Jones starringMatthew McConaughey.[50] In 2015, STX Films acquired its first feature at theToronto International Film Festival, purchasing the worldwide rights to the sci-fi, action adventureHardcore Henry for US$10 million.[51]
In 2017, STX Films announced its expansion into animation and family content with a partnership with theUglydoll brand. TheUglyDolls film was produced byRobert Rodriguez, director of theSpy Kids film franchise, and it features the voices ofPitbull,Kelly Clarkson,Nick Jonas,Blake Shelton, andJanelle Monáe.[52][53] It performed poorly at the box office, and received a lot of bad reviews from the critics.[54][55] In January 2019, it was reported that STX is planning an animatedUglyDolls television series withHulu.
In January 2018, STX Films andTencent Pictures announced a co-development deal withJason Statham targeting the Chinese film market. Statham starred inFurious 7 andThe Fate of the Furious, China's two highest-grossing imported films ever.[56] In February 2018, STX Films signed a deal withAlibaba Pictures to 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.[57]
In January 2019, STX Films had their first number one box office opening withThe Upside, which starsKevin Hart,Bryan Cranston andNicole Kidman, and earned $19.59 million in its opening weekend,[58] and went on to earn over $100 million at the domestic box office.[59] STX earned praise for its efficient marketing of the film, and for trimmingThe Upside from an R to PG-13 rating to widen its audience.[58] 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.[60]
Hustlers had 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.[40][61]The Gentlemen, written, directed and produced byGuy Ritchie and starringMatthew McConaughey, was released theatrically in January 2020. It grossed $115.2 million at the box office worldwide.[62] As of July 2020[update], upcoming STX films includeGreenland starringGerard Butler,Run Rabbit Run starringElisabeth Moss,The Godmother starringJennifer Lopez,Night Wolf starringKevin Hart, andMuscle starringVin Diesel.[15][63]
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,[64] was the first R-rated comedy sinceThe Hangover to get an A onCinemaScore and was the most profitable film of the year (by net profit).[65] The film also earned aPeople's Choice Award for Best Comedy.[66] The 2017 American crime dramaMolly's Game was nominated for anAcademy Award for Best Adapted Screenplay[67] along withBAFTA,[68]WGA,[69] andGolden Globe nominations.[70]The Edge of Seventeen was nominated for anMTV Movie Award for Movie of the Year,[71] aDirectors Guild Award for Outstanding Achievement in a First-Time Feature[72] and aGolden Globe Award forHailee Steinfeld.[73] On review aggregator websiteRotten Tomatoes, the film has an approval rating of 95%.[74]
Genre films have also received recognition. The psychological horror-thrillerThe Gift was nominated for a Directors Guild Award for Outstanding Achievement in a First-Time Feature[75] and won aSitges Film Festival[76] andFangoria Chainsaw Award.[77]The Space Between Us starringGary Oldman was nominated forChoice Sci-Fi Movie andChoice Sci-Fi Movie Actor at the2017 Teen Choice Awards.[78] The horror thrillerThe Bye Bye Man overperformed industry expectations with a US$13.5 million domestic opening weekend.[79]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."[47][80][81]
In 2019,Hustlers earnedJennifer Lopez theLos Angeles Film Critics Association Award for Best Supporting Actress[82] and award nominations including theGolden Globe Award for Best Supporting Actress,[83]Screen Actors Guild Award for Outstanding Performance by a Female Actor in a Supporting Role,[84]Critics' Choice Movie Award for Best Supporting Actress,[85] and theIndependent Spirit Award for Best Supporting Female.[86]
STX Films strives for female diversity in front of and behind the camera.[44] More than 20 films have featured women in leading roles or were directed by women.[87]
The television division's first project was the 2014 drama-thrillerState of Affairs, starringKatherine Heigl andAlfre Woodard. The 13-episode series was developed by STX TV (as it is stylized) and sold toNBC.[88][89] In 2015, STX TV produced the NBC pilotProblem Child, based onthe 1990 film of the same name.[90]
In April 2016, STX TV expanded into unscripted and reality content, hiring veteran TV producerJason Goldberg. A few months later, the variety showNumber One Surprise launched, 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 TV andPPTV, was viewed nearly 300 million times, and by January 2017 it was the #1 show in China with over 1 billion views.[91][92]
In May 2017, STX TV announced it had acquired the first TV project fromKevin Kwan, author ofCrazy Rich Asians.[93] In August 2018,Amazon Studios gave 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.[94] In July 2017,E! greenlit the reality seriesThe Platinum Life, produced by STX TV and Tower 2 Productions.[95] 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 Carnahan and executive producerArianna Huffington. The show airs onNatGeo, with STX distributing in China.[96] It premiered on January 13, 2019.[97] STX Television produced season 23 ofTrue Life, which aired onMTV in 2017. The company also produced the docuseriesA Little Too Farr, following American country singer-songwriterTyler Farr, which premiered onVerizon'sgo90 streaming service. In February 2018, Fox and STX TV announced that it is developing an unscripted series based on its filmBad Moms.[98] In April 2018, Mother Media Group, founded by formerEndemol Shine and20th Century Fox executives, signed a first-look deal with STX TV. Under the pact, the companies will collaborate to create, produce and distribute unscripted and hybrid series.[99]
In 2018, it was reported thatNetflix gave a six-episode series order to STX TV's hybrid docudrama miniseriesOttoman Rising, which tells the story ofMehmed the Conqueror;[100] later retitledRise of Empires: Ottoman, it premiered on Netflix on January 24, 2020.[101] It was also announced thatYouTube Red will produce a TV spinoff based on STX's 2016 filmThe Edge of Seventeen, with an entirely new cast.[102]
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.[103] In its first year (2015), Surreal produced over 70 immersive VR experiences[103] featuringGordon Ramsay,Snoop Dogg,Jon Hamm,Jimmy Kimmel,Wolfgang Puck andWiz Khalifa among others.[104]
In 2017, STX Surreal was nominated for an interactiveDaytime Emmy Award for theNickelodeon shortNickelodeon's Ultimate Halloween Haunted House 360 Challenge[105] and won aShorty Award for Best Use of 360 Video for their 360° production of the68th Emmy Awards, in collaboration with theAcademy of Television Arts & Sciences andFacebook.[106] 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.[107] In 2018, STX Surreal announced a slate of original projects includingNew Tricks, directed and produced byEd Helms;[108]The Kiev Exchange, a spin-off of STX Films'Mile 22;[108]Jay and Silent Bob VR, written, produced, and directed byKevin Smith;[108] and untitled projects fromDave Bautista andDerek Kolstad.[108]
Robert Rodriguez's live-action short-formVR filmThe Limit, starringMichelle Rodriguez, was released by STX Surreal on major mobile headsets and onAndroid phones with cardboard viewers in November 2018. It is also going to be released oniOS,PlayStation VR, andWindows Mixed Reality.[109][110] The Academy Award-winning visual effects studioDNEG worked on the film in post-production.[111]
In December 2017,Dick Clark Productions sold Chinese distribution rights to theGolden Globe Awards andDick Clark's New Year's Rockin' Eve to STX Digital.[112][113] STX partnered withTencent Video to 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.[114]
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 Play byAngela Burt-Murray, premiered onBET on April 23, 2019.[115][116]
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 formerFilm4 headDavid Kosse.[117] The division launched with a slate of six films that includedAndy Serkis's directorial debutBreathe (which opened the 2017London Film Festival),[118]Home Again starringReese Witherspoon, and the thrillerWind River starringJeremy Renner andElizabeth Olsen.[119] Additional titles on the slate includeRidley Scott'sAll the Money in the World,Neil Burger's thrillerThe Marsh King's Daughter and Bart Layton's heist filmAmerican Animals, along with titles from the main STX Films slate.[120] STX bought the international distribution rights toThe Irishman for $50 million. Renamed ErosSTX International following the merger of Eros International and STX in 2020, the company reverted 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.[121]
| 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 Awards Red 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 Bob VR[122] | STX Surreal | TBA | Co-production withView Askew Productions |
| UntitledDave Bautista Series[122] | |||
| UntitledDerek Kolstad Project[122] | |||
| New Tricks[122] | Co-production with Pacific Electric Picture Co. | ||
| The Kiev Exchange[122] | Co-production with Film 44 and Film 45 | ||
| UntitledKevin Kwan and David Sangalli Scripted Series[123] | TBA | ||
| UntitledBad Moms reality series[124] | Fox | TBA | Co-produced withFox Alternative Entertainment |
("S" for Simonds, "T" for TPG Growth, and "X" for secret project)
