STX Financing, LLC, (d.b.a. STX Entertainment, a.k.a. STX) is an American independent entertainment and media company. Founded in March 2014 by film producer Robert Simonds and TPG Growth managing partner Bill McGlashan, the studio produces film, television, and digital media projects.
In April 2020, STX announced that it would merge with the Indian studio Eros International. The merger was completed in July 2020, and STX became a division of ErosSTX. 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. In January 2026, STX was revived following a sale to Crown Productions, owned by insurance company A-CAP.
History In 2012, Simonds and McGlashan began conceptualizing a media company based on the idea of producing medium-budget star-driven projects, a method that had fallen out of favor 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 for TPG Growth, whose managing partner McGlashan helped launch the company; and the "X" standing for "secret project"), with the mission to finance, develop, produce, market, and distribute star-driven content around the world.Anita Busch, "Is This Hollywood's Next Major Studio? Bob Simonds & TPG Growth's Venture Fully Financed, JP Morgan Says; Hiring, Deals To Start In Earnest" , Deadline Hollywood, March 13, 2014.Tad Friend, "The Mogul of the Middle" , The New Yorker, January 11, 2016. Investors in the company included Hony Capital, Tencent, PCCW, TPG Growth, RTL Group, and Liberty Global. Individual investors included Gigi Pritzker, Beau Wrigley, and Dominic Ng.Ryan Faughnder, "STX Entertainment secures funding from China's Tencent and PCCW" , Los Angeles Times, April 11, 2016.Rebecca Ford, "Showtime, STX Entertainment Announce TV Deal and First Four Films" , The Hollywood Reporter, January 20, 2015.Dave McNary, "'John Malone Invests in STX Entertainment Through Liberty Global" , Variety, November 30, 2017.
In September 2017, it was reported that STX was considering an initial public offering (IPO) on the Hong Kong Stock Exchange (SEHK). It was reported that a listing on the SEHK could bring STX closer to Chinese investors and audiences. The Wall Street Journal stated that the company could be valued at $3.5 billion, after raising an additional $500 million following the IPO.Wayne Ma and Julie Steinberg, "'Bad Moms' Movie Studio Plans Hong Kong IPO" , Wall Street Journal, September 27, 2017.Anita Busch, "STX To Launch IPO On Hong Kong Stock Exchange In 2018" , Deadline.com, September 27, 2017. In April 2018, the company filed for an IPO on the Hong Kong Stock Exchange.
STX called off its IPO in October 2018, citing the China–U.S. trade war, and conditions having deteriorated in Hong Kong due to turbulence in the mainland Chinese equity market. An overall co-funding agreement with the Chinese company Huayi Brothers Media lapsed at the end of 2018, and, in April 2019, co-founder Bill McGlashan was fired due to his being indicted in the college admissions bribery scandal.
In April 2020, STX announced that it would merge with the Indian film and television studio Eros International plc. Simonds stated that the merger would create "the first independent media company with the expertise and creative cultures of Hollywood and Bollywood, 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 the New York Stock Exchange. The merger was closed on July 30, 2020; the combined company unveiled a new logo and branding as ErosSTX in September. The combined entity raised $125 million of new equity funding and, led by JPMorgan, received $350 million in credit.
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. However, in late January 2022, Lionsgate also emerged as a potential suitor, looking to absorb either part or all of STX; but that deal was later rejected, leaving only Najafi as a potential suitor. In April 2022, Najafi Companies completed its acquisition of STX Entertainment. Eros Media World would retain a 15% non-voting stake in the company. In July 2022, shortly after STX's motion picture chairman Adam Fogelson left the studio, Deadline reported that STX was in talks with Lionsgate over a potential film distribution deal. Shortly after, it was reported that STX Entertainment's U.K. offices, including the London office housing STXinternational's headquarters, were gradually shutting down. Following the departure of STXinternational head John Friedberg to join Black Bear Pictures's international division, it was announced that the latter company was nearing a deal with STX to handle part of its slate internationally. In November 2022, It was reported that STX's distribution and marketing operations would be shuttered and that Operation Fortune: Ruse de Guerre would go to a streaming service domestically, alternatives being considered for The Marsh King's Daughter, Lionsgate possibly taking over distribution for Ferrari, and with Greenland 2: Migration being packaged to other distributors. By February 2023, it was reported that Lionsgate had already taken domestic rights from Operation Fortune: Ruse de Guerre with plans to release it theatrically on March 3, 2023. In July 2023, Neon bought the distribution rights for Ferrari, with Neon releasing it on December 25, 2023.
In January 2026, Najafi sold STX Entertainment to Crown Productions, a subsidiary of insurance platform A-CAP, with Peter Coleman installed as its new CEO and Simonds and Fogelson leaving the company. STX will resume domestic distribution operations, with a target of producing films with budgets of up to $20 million.
STX Films
Distribution 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 chains AMC, Regal, Cinemark, Goodrich, Marcus Theatres, and Carmike Cinemas."Robert Simonds, Gigi Pritzker Pact with TPG, China's Hony Capital on Production Venture" , Variety, March 10, 2014. In early 2015, the company signed a multiyear television output agreement to release films exclusively to Showtime Networks and its channels Showtime, The Movie Channel, and Flix during the premium television window. The deal covered STX Films' theatrical releases through 2019.Dave McNary, "STX Entertainment, Showtime Announce TV Output Deal and First 4 Films" , Variety, January 20, 2015. In April 2015, the company entered into a multiyear partnership with Universal 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.Rebecca Ford, "STX Entertainment Signs Pact With Universal Studios Home Entertainment" , The Hollywood Reporter, April 7, 2015. Film distribution was transferred to Studio Distribution Services, LLC, a joint venture between Universal Pictures Home Entertainment and Warner Bros. Home Entertainment. That same month, STX Films closed a three-year slate deal with Huayi Brothers, one of China's largest film studios, enabling the companies to co-produce and co-distribute 12 to 15 films annually.Anita Busch and Nancy Tartaglione, "STX Entertainment Pacts With China's Huayi Bros For 12-15 Pics Per Year" , Deadline.com, April 1, 2015.Brent Lang, "STX Entertainment Chief Says Huayi Deal 'Supercharges Our Business Plan'" , Variety, April 1, 2015.Richard Verrier, "China's Huayi Bros. Media closes film slate deal with STX Entertainment" , Los Angeles Times, April 2, 2015. In January 2017, STX Films signed a marketing and distribution agreement with Luc Besson's EuropaCorp Films USA to release their upcoming slate of films in the US after their previous distributor Relativity EuropaCorp Distribution hit financial trouble. In February 2018, STX Films announced it would distribute Netflix and Martin Scorsese's mob drama The Irishman in China along with Media Asia Entertainment Group.Anita Busch, "STX To Distribute Martin Scorsese's 'The Irishman' After All With China Deal: The Crazy Backstory" , Deadline.com, February 9, 2018.
In May 2018, it was reported that STX would distribute and oversee production of Tencent Pictures' and Free Association's film adaptation of the digital comic book Zombie Brother, to be directed by David Sandberg. In July 2018, STX Films acquired domestic distribution rights to the civil rights drama The Best of Enemies, which was released on April 5, 2019.
In August 2023, STX formed a domestic distribution partnership with Lionsgate to handle distribution of its upcoming slate of films and its current film library, starting with The Marsh King's Daughter.
In January 2026, STX re-emerged with plans to begin domestic distribution once more, planning two or three movies in 2026, and six to eight movies in 2027.
Film projects In 2015, STX Films acquired its first feature at the Toronto International Film Festival, purchasing the worldwide rights to the sci-fi, action adventure Hardcore Henry for US$10 million. In line with its mission to make medium-budget, star-driven content, STX Films projects have included The Gift (2015),Mannie Holmes, "Joel Edgerton, Jason Bateman Celebrate STX Entertainment's First Premiere of The Gift'" , Variety, July 31, 2015. Secret in Their Eyes (2015),Nancy Tartaglione, "....Acquired by STX" Deadline.com, December 2, 2014. Bad Moms (2016),Anthony D'Alessandro, "'Bad Moms' Sleeps Its Way To The Top Of The B.O.; Becomes STX's First $100M Domestic Hit" , Deadline.com, September 3, 2016. The Edge of Seventeen (2016),Pete Hammond, "With 'The Edge Of Seventeen', Toronto Saves One Of The Best For Last" , Deadline.com, September 16, 2016. The Boy (2016),Nancy Tartaglione, "STX/Lakeshore Horror Pic 'The Boy' Scares Up China Release Date Via Huayi" , Deadline.com, March 16, 2016. Free State of Jones (2016),Nancy Tartaglione, "IM Global Strategy Pays Off With Strong Sales On 'Free State Of Jones' & More – AFM" , Deadline.com, November 17, 2014. Molly's Game (2017),Scott Mendelson, "With Jessica Chastain's 'Molly's Game,' STX Continues To Bet On Women" , Forbes, August 15, 2017. The Foreigner (2017),Nancy Tartaglione, "'The Foreigner's Wayne Marc Godfrey On Decade-Long Journey; STX/Sparkle Roll China Co-Pro Soon Passing $100M Offshore" , Deadline.com, October 27, 2017. I Feel Pretty (2018),Mike Fleming Jr, "STXfilms Buys Amy Schumer Pic 'I Feel Pretty': Cannes" , Deadline.com, May 25, 2017. Second Act (2018),Mia Galuppo, "Jennifer Lopez to Star in Romantic Comedy 'Second Act' for STX" , The Hollywood Reporter, June 22, 2017. and Hustlers (2019).
In 2017, STX Films announced its expansion into animation and family content by partnering with the Uglydoll brand. The UglyDolls film was produced by Robert Rodriguez, director of the Spy Kids film franchise.Maane Khatchatourian, "Robert Rodriguez to Direct 'Ugly Dolls' Animated Film for STX" , Variety, March 28, 2017. It performed poorly at the box office and received negative reviews from critics. In January 2019, it was reported that STX is planning an animated UglyDolls television series with Hulu.