'Hustlers' studio STX Entertainment to merge with India's Eros [Los Angeles Times (CA)]
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Source: Los Angeles Times
STX Entertainment, the start-up film company that hoped to become the next major Hollywood studio, will merge with an Indian media and entertainment company. Burbank-based STX, known for movies including “Hustlers” and “Bad Moms,” will combine with Eros International, a publicly traded Mumbai-based film studio and streaming platform, the companies said Friday. The combined company will be named Eros STX Global Corp. and will trade publicly on the New York Stock Exchange. Terms of the deal were not disclosed. STX, founded by Robert Simonds in 2014, launched with significant funding and bold ambitions to succeed with mid-budget movies with film stars playing the kinds of parts that made them famous. But a series of flops, including 2019’s “UglyDolls,” raised questions about whether the company would survive .
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