Eros International PLC and STX Filmworks, Inc. have announced today the completion of their merger-of-equals transaction. The newly-combined company will migrate in the coming weeks to trade on the NYSE under the symbol ESXI and will operate under the name Eros STX Global Corporation.
The company will continue to be domiciled in the Isle of Man, and headquartered in both Burbank, California, USA and Mumbai, Maharashtra, India. The combination creates a global entertainment content & OTT powerhouse.
The Combined company creates a financially robust global studio leader across 3 continents with strategic content and distribution partnerships for an unprecedented global footprint.
The company is planning a global Eros STX brand and website launch in September 2020, accompanied by a bell-ringing event at the NYSE to launch a new ticker symbol. The company is also planning to host a virtual Investor Day later this year to provide a strategic and investment thesis framework, as well as more detailed projected financial forecasts for fiscal 2022 – 2024 along with KPIs and critical operating metrics.
Combination will drive long-term growth in diversified markets and provide a more consistent and stable revenue profile. In India, Eros STX will continue to have a leading box office presence and one of the largest and most valuable libraries of Indian language films.
In the United States and the rest of the world, it will utilize its revolutionary, industry-disrupting and cost effective, data-driven production, marketing and distribution system innovations to create the studio system of the future: visionary, nimble, efficient and sustainable.
