Combined Company will Remain a Publicly Traded Enterprise, Uniquely Positioned to Benefit from the Accelerating Consumption of Premium Digital Content in the World’s Most Important Growth Markets with a Robust Capital Structure and Experienced Management Team
Combines leading Indian film studio and OTT platform with one of Hollywood’s fastest-growing independent media companies; to be named Eros STX Global Corporation and will trade publicly on the NYSE
Creates a pre-eminent global media company with unique resources and capability to develop, produce and distribute Bollywood and Hollywood premium content at scale and across platforms, leveraging unique strategic and distribution partnerships globally including Apple, Amazon, Microsoft, NBCUniversal and Google/YouTube
Revamped capital structure includes $125 million of incremental equity from new and existing STX Entertainment equity investors, including TPG, Hony Capital and Liberty Global; superior liquidity and a robust balance sheet including a $350 million JP Morgan-led credit facility
Increased financial scale with over $600 million in pro forma revenue for calendar 2019 and over $300 million of highly-predictable aggregated future revenue from STX Entertainment films already released through 2019
188 million+ Eros Now registered users including 26 million+ paid subscribers
Approximately $50 million of highly-actionable operating synergies across global operations
Newly constituted management team led by Kishore Lulla as Executive Co-Chairman, Robert Simonds as Co-Chairman & Chief Executive Officer, Andrew Warren as Chief Financial Officer, Rishika Lulla Singh and Noah Fogelson as Co-Presidents, and Prem Parameswaran as Head of Corporate Strategy.
