Eros And STX Close Merger, Plan New York Stock Exchange Debut In September, Eye $1B In Revenue By 2022

The combined entity, which blends the film and TV operations of large-scale indie STX with the production and streaming assets of India-based Eros, will trade under the symbol ESXI. Eros STX Global Corp. will be based in the Isle of Man and headquartered in Burbank and Mumbai. The official closing announcement called the new firm a “powerhouse between East and West.

Eros STX benefits from $110 million of incremental equity, with an additional $15 million to be completed within the next 90 days, from new and existing global investors including TPG, Tencent, Hony Capital and Liberty Global. All of these investors come with a strong track record in media and technology investments, and will partner with Eros STX over the long-term to pursue strategic investments in key growth areas including global distribution and OTT content.

The company’s board of directors will be headed by executive co-chairman Kishore Lulla and Simonds, who is co-chairman and CEO.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks sink after US, Germany report record economic dropsNEW YORK (AP) — Stocks are falling in early trading on Wall Street Thursday after the U.S. and Germany reported record contractions in their economies in the second quarter as the coronavirus... Um, and Trump's insinuation that he wants to postpone the election. Wall Street is not the economy!!!!! AP and other fear mongers led to widespread shutdowns in an effort to hurt the economy. Still going on.
Source: AP - 🏆 728. / 51 Read more »