Exclusive: We understand that STX Entertainment has experienced a decline, particularly in the theatrical marketing and distribution departments at the lower and lower executive level.
The news comes as STX is moving away from 12 theatrical releases per year and more, towards a multi-stage distribution model. He plans to shoot 15 films a year, five are designed for the big screen and the rest will be split between live broadcast or internationally distributed theatrical PVOD or live streaming titles.
STX carries out its financial reorganization, bypasses Eros and moves into the Najaf companies. There was an option on the table that STX would take over Lionsgate, both the library and the staff. I understand that STX’s offer was completely turned down to allow them to remain an independent studio. Recently, two films were shot separately: Greenland 2 And the Chris Pine-Ben Foster movie Კ Contractor. It was a means of securing these features so that the studio could monetize them on the other side of the transaction with Najaf.
Many perceived the STX movement as a reclining chaise longue from the Titanic; I understand that this is not the case and that many of these upheavals are related to the divorce of Eros. Once STX’s house is in order, he intends to rent it back to other apartments.
Კ Contractor Sold in a deal on Showtime North, for approximately $ 15 million. The film was released in limited theaters on April 1 and has grossed $ 1 million to date. Imaging financier 30West filed a lawsuit in the United States bankruptcy court in New Orleans demanding the release of Chapter 11, claiming that STX did not pay $ 8.4 million in contract payments. Filing for bankruptcy automatically prevented 30West from completing its default transaction with STX. 30West attempted to terminate the contract and return the film.
Michael Wayne, co-chair of STX Theatrical Distribution, recently joined Comscore as a Global Revenue Manager. Director of film distribution Kevin Grayson remains in addition to Adam Fogelson, president of STXfilms, co-president and general counsel Noah Fogelson, chief producer Sam Brown, president of marketing Carrie Moore and senior president of media and marketing Amy Elkins.
When they arrived, STX did not comment.
Source: Deadline
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