Exclusive: We hear that STX Entertainment has made cuts, notably in its theatrical distribution and marketing departments in the lower-level executive tiers and down.
The news comes as STX is pivoting away from 12 theatrical releases a year and more toward a multi-tiered distribution model. It plans to make 15 films a year, with five destined for the big screen and the balance split between straight-to-streaming or international theatrically distributed PVOD or direct-to-streaming titles.
STX is reorganizing itself financially, de-merging from Eros and segueing to the Najafi Companies. There was an option on the table to have STX absorbed by Lionsgate, both library and staff — a bid STX full-out rejected, I hear, so that it can remain an independent studio. Two films were placed separately in bankruptcy under shell companies of late: Greenland 2 and the Chris Pine-Ben Foster movie The Contractor. This was a means of protecting those features so the studio...
The news comes as STX is pivoting away from 12 theatrical releases a year and more toward a multi-tiered distribution model. It plans to make 15 films a year, with five destined for the big screen and the balance split between straight-to-streaming or international theatrically distributed PVOD or direct-to-streaming titles.
STX is reorganizing itself financially, de-merging from Eros and segueing to the Najafi Companies. There was an option on the table to have STX absorbed by Lionsgate, both library and staff — a bid STX full-out rejected, I hear, so that it can remain an independent studio. Two films were placed separately in bankruptcy under shell companies of late: Greenland 2 and the Chris Pine-Ben Foster movie The Contractor. This was a means of protecting those features so the studio...
- 4/14/2022
- by Anthony D'Alessandro
- Deadline Film + TV
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.