Skip To Navigation; ... STX's Merger Plan With Eros Touts "Risk-Mitigated" Films, Streaming Ambition Erik Hayden 4/20/2020. Apart from market access, the merger will also give the company additional heft from finance perspective, he said, adding the revamped capital base has led JP Morgan to open a $350 million credit facility. Necessary cookies are absolutely essential for the website to function properly. Eros and STX Entertainment, which has produced films including “I Feel Pretty” and “The Edge of Seventeen”, did not disclose the financial terms of the deal. "While Bollywood has the scale, financially speaking, we have some way to go and to learn from Hollywood. Robert Simonds, head of STX, would be the chief executive officer of the combined company, while Eros CEO Kishore Lulla would be executive co-chairman. Eros and STX Entertainment, which produced films such as “I Feel Pretty” and “The Edge of Seventeen”, did not disclose the financial terms of the deal. urged to allow alcohol with takeout restaurant, Coronavirus: how NHS Nightingale was built in just nine days, Coronavirus deaths in the UK are 15% higher than previously reported, How to watch the fireworks of July 4, 2020 on TV and online, Wind deployments in France decline in the first quarter. This merger will help in that," Dwivedi, who will continue in the same role post-merger, said. We'll assume you're ok with this, but you can opt-out if you wish. This website uses cookies to improve your experience. This category only includes cookies that ensures basic functionalities and security features of the website. Robert Simonds, head of STX, would be the CEO of the combined company, while Eros CEO Kishore Lulla would be the executive co-chair. Parikh Worldwide Media is the largest Indian-American publishing group in the United States. Indian movie producer Eros International Plc is merging with privately-held U.S. filmmaker STX Entertainment in an all-stock deal that brings together Bollywood and Hollywood. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. The combined entity, which blends the film… The combined company, Eros STX Global Corp, will remain listed on the New York Stock Exchange, with headquarters in both Mumbai, India and Burbank, California, the companies said https://www.businesswire.com/news/home/20200417005565/en in a statement. The combined company is also expected to release about 40 feature length films, including seven sequels, and over 100 original shows in 2020. The new company is expected to generate about $50 million in operating cost savings within two years of closing the merger, the statement added. This website uses cookies to improve your experience while you navigate through the website. Last Updated : Apr 20, 2020 09:31 AM IST | Source: Subscribe to Moneycontrol Pro and get 365 bonus InterMiles!
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