Eros Media World plc (formerly ErosSTX Global Corporation) is an Indian

media company Mass media refers to a diverse array of media technologies that reach a large audience via mass communication. The technologies through which this communication takes place include a variety of outlets. Broadcast media transmit information ...

that acquires, produces, and distributes films, television shows, and digital content. The company is led by executive chairperson Rishika Lulla Singh.

History

Eros International plc Eros International plc was an Indian multinational global mass media conglomerate. It generally works in the Indian film and entertainment industry. It co-produced, acquired and distributed Indian language films through its film production a ...

was founded by Arjan Lulla and

Kishore Lulla Kishore Lulla is the chairman of Eros International plc, the first Indian Media & entertainment company listed on New York Stock Exchange. He is also executive chairman and director of Eros International PLC and executive director at Eros Inte ...

in 1977 as an Indian film and television production and distribution company. The company launched its ErosNow OTT service in 2012, which by 2020 had 36.2 million paid subscribers and the largest library of Indian content in the world. Eros International plc became the first Indian media company to list on the

Alternative Investment Market AIM (formerly the Alternative Investment Market) is a sub-market of the London Stock Exchange that was launched on 19 June 1995 as a replacement to the previous Unlisted Securities Market (USM) that had been in operation since 1980. It allows ...

(AIM) of the London Stock Exchange. Subsequently, the company delisted from AIM in November 2013 to list on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its liste ...

STX Entertainment STX Entertainment is a mini-major American entertainment and media company. Founded in March 2014 by film producer Robert Simonds, the studio produces film, television, and digital media projects. In April 2020, STX announced that it would merg ...

was founded by

Robert Simonds Robert Bruce Simonds Jr. (born 1964) is an American film producer, entrepreneur, and the founder & chairman of STX Entertainment, which creates, produces, distributes, finances, and markets film (as STXfilms), television (as STXtelevision), dig ...

and

Bill McGlashan William E. McGlashan Jr. (born November 20, 1963) is an American businessman and former international private equity investor. McGlashan founded TPG Growth, the growth equity and smaller buyout investment arm of TPG Capital, a global private equi ...

in 2014 as an American mini-major film, television, and digital media studio. By April 2020, STX had released 34 films, which earned over US$1.5 billion in global box office, with hits including ''

Bad Moms ''Bad Moms'' is a 2016 American comedy film directed and written by Jon Lucas and Scott Moore. The film stars an ensemble cast that includes Mila Kunis, Kristen Bell, Kathryn Hahn, Jay Hernandez, Annie Mumolo, Jada Pinkett Smith, and Christ ...

'', '' Hustlers'', and ''

The Upside ''The Upside'' is a 2017 American comedy-drama film directed by Neil Burger, written by Jon Hartmere. It is a remake of the French 2011 film '' The Intouchables'', which was itself inspired by the lives of Abdel Sallou and Philippe Pozzo di Borg ...

''. After first being announced in April 2020, the merger of Eros International and STX Entertainment was completed on July 30, 2020, with the company now called ErosSTX Global Corporation. The merged company is publicly traded on the New York Stock Exchange, with the combined firm listed as ESGC. On 7 December 2021,

Jahm Najafi Jahm Najafi (born 1963) is an Iranian-American billionaire businessman. He runs Najafi Companies, a Phoenix-based private-equity firm, and is partial owner of the Phoenix Suns NBA team. Early life Najafi has a bachelor's degree in economics f ...

's Najafi Companies announced that it had reached an agreement to acquire STX Entertainment from ErosSTX for US$173 million. The deal is subject to a 45-day period where ErosSTX may solicit other offers; if ErosSTX declines the offer, it must pay a $4.5 million

breakup fee A breakup fee (sometimes called a termination fee) is a penalty set in takeover agreements, to be paid if the target backs out of a deal (usually because it has decided instead to accept a more attractive offer). The breakup fee is ostensibly to com ...

Lionsgate Lions Gate Entertainment Corporation, doing business as Lionsgate, is a Canadian-American entertainment company. It was formed by Frank Giustra on July 10, 1997, domiciled in Vancouver, British Columbia, Canada and is currently headquartered ...

also emerged as a potential suitor, but it was rejected on 10 March 2022, leaving Najafi as the only suitor left. The sale was closed in April 2022, effectively splitting STX from ErosSTX and making it an independent studio again. Shortly after the sale of STX, ErosSTX announced their rebrand to Eros Media World plc, with some changes in management and reduced debt following STX's sale. Eros Media World would, however, retain a 15% stake in STX. Rishika Lulla Singh was named executive chairman, with Pradeep Dwivedi acting as the new CEO and Rajesh Chalke being stated as the new CFO of the company. The company will focus on its content library and film studio

Eros International Eros International Media Ltd (also known as Eros India) is an Indian motion picture production and distribution company, based and originated in Mumbai, India. Founded by Arjun Lulla in 1977, it is one of the leading production and distribut ...

, as well as

Eros Now Eros Now is an Indian subscription-based over-the-top, video on-demand entertainment and media platform, launched in 2012. It is owned and controlled by Eros Digital, the Indian digital media management arm of the Indian-American multinational ...

and

Eros Music Eros Music (also known as Eros Now Music) is a music studio and distributor based in Mumbai, India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by area, seven ...

Management

Rishika Lulla Singh serves as ErosSTX's executive chairperson, Pradeep Dwivedi as CEO and Rajesh Chalke as CFO. ErosSTX's board of directors is composed of Kishore Lulla, Rishika Singh, Dhirendra Swarup, and Dilip Thakkar.

References

External links

* {{Authority control Companies listed on the New York Stock Exchange American companies established in 2020 Indian companies established in 2020 Mass media companies established in 2020 Entertainment companies established in 2020 Film distributors of India Film distributors of the United States Entertainment companies based in California Entertainment companies of India American brands Indian brands American film studios Indian film studios 2020 establishments in Maharashtra STX Entertainment