We understand that STX is closing its UK operations and most staff are currently inquiring about their options. There will be some layoffs.
STX declined to comment on the situation, which we believe could affect at least a dozen employees.
When it opened in 2017, STX’s massive and expansive London office was the talk of the town among UK dealerships. The studio has always struggled to fill the huge space upstairs on the Strand and it seems that the costs and expenses of distribution in the UK are no longer sustainable.
It is rumored that the latest round of cuts will be extended to the United States, that equipment has already been significantly simplified, but this has not yet been verified.
The studio continues to move to a new model following the separation from Eros and the acquisition by Najafi Companies earlier this year.
This week we revealed that the company is connecting with Lionsgate for national distribution and marketing and that longtime director Adam Fogelson has moved from STX to Lionsgate. Earlier this summer, we announced that STX International director John Friedberg had partnered with Teddy Schwartzman to form Black Bear International.
The company began distributing in the UK in 2017. Included in releases American animals, Upside down, cheater, 21 bridges Y my spy. 2021 releases included I care about it a lot, Mauritanian, cop shop Y spencer.
STX will continue as a film and television operation, but its new form is still being defined.
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Source: Deadline
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
