A consortium of investors led by Najafi Companies has closed its deal to purchase STX Entertainment, the beleaguered film and television company behind "Bad Moms" and "My Spy." The sale ends STX's unhappy union with Eros, the Indian media company that it merged with in 2020. The goal was to go public, which STXEros did, but to little investor fanfare. STX had previously tried and abandoned an effort to go public on the Hong Kong stock exchange in 2018, citing...
STX Entertainment
Robert
Simonds
Chairman / CEO
The ambitious STX honcho has been building out the new fully integrated entertainment outlet since its 2014 launch. Formerly an independent producer, Simonds co-founded STX eager to fill the vacuum left by competitors who passed up mid-budget pictures in favor of pricey tentpoles. With an eye toward cross-platform expansion into emerging global markets, STX in 2016 received an influx of funding from PCCW, Tencent Holdings and others. The company expanded its TV and international operations, adding high-quality, full-scale capabilities across music and digital, including short-form, app-based and virtual-reality/immersive entertainment. He generated more than $6 billion from some 30 titles in his early days, featuring a slew of Adam Sandler comedies.
