STX Entertainment
Current logo as of September 2016
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| Private | |
| Industry | Entertainment |
| Founded | March 10, 2014 |
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| Headquarters | Burbank, California, United States |
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| Website | stxentertainment.com |
STX Entertainment (stylized as STX ENTERTAINMENT) is an American entertainment company founded on March 10, 2014 by Robert Simonds and Bill McGlashan. They specialize in film and television production, as well as digital media.
In 2012, Simonds and McGlashan, the head of TPG Growth, were discussing the profitability of producing films with a star attached and a medium budget (in the $20–60 million range), a method that had gone out of style with Hollywood studios. The conversation led to the launch of STX Entertainment in 2014, with a mission to finance, develop, produce, market and self-distribute 8 to 10 medium budget star-driven films worldwide per year.
In March 2015, STX announced a deal with Chinese film production company Huayi Bros. to co-finance at least 18 films to be produced over a three-year period beginning in 2016, which would increase STX's slate to 12 to 15 films annually through 2018.
Rather than pursuing the traditional distribution process, STX has direct distribution agreements with North American theater chains AMC, Regal, Cinemark ,Marcus Theatres and Carmike Cinemas. In January 2015, STX signed a multiyear television output agreement to release its films exclusively to Showtime Networks during the premium television window, beginning in 2015 and covering the studio’s theatrical releases through 2019. In April 2015, STX entered into a multiyear partnership with Universal Studios Home Entertainment, with Universal handling marketing, sales and distribution services for Blu-ray, DVD and VOD platforms of STX’s theatrical titles in North America.
STX is backed by venture capital firm TPG, Chinese private equity firm Hony Capital, and private equity including Gigi Pritzker and Beau Wrigley. The studio has announced plans to invest over $1 billion per year through 2018 in making, marketing and distributing films. STX closed a further round of financing in August 2016 that valued the company at close to $1.5 billion. Additional major strategic investments were made from companies including Chinese technology giant Tencent and Hong Kong-based telecommunications firm PCCW.
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