, the indie studio led by Robert Simonds, to an affiliate of the Najafi Companies for $173 million.
The deal, which includes STX Entertainment needing to repay $148 million in debt, follows STX Entertainment and Eros completing a stock-for-stock merger, to form Eros STX Global Corp. in 2020. The Najafi Companies is a private investment company with holdings in consumer, media, talent-driven brands, e-commerce, tech and sports.
Wow that’s it? All these big deals in the industry and all Bob Simonds can do is a deal for $173M? Makes sense given Simonds doesn’t even own shares in his current company, ErosSTX. Certainly looks like he’s working for private equity and not his investors.
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