Home Uncategorized Lionsgate Exploring Deal to Acquire STX Entertainment – Hollywood Reporter

Lionsgate Exploring Deal to Acquire STX Entertainment – Hollywood Reporter

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Lionsgate Exploring Deal to Acquire STX Entertainment – Hollywood Reporter

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Other suitors have expressed interest in the ‘Hustlers’ studio after it announced a sale to the Najafi Companies last year.
By Alex Weprin
Media & Business Writer
Lionsgate is exploring a potential acquisition of some or all of STX Entertainment, the independent studio behind Hustlers, The Hollywood Reporter has confirmed.
The deal, if it comes together, would effectively unwind a sale announced last month to the private equity firm Najafi Companies, for $173 million. There are other bidders interested in STX, a source familiar with the matter says.

The Indian film giant Eros, which merged with STX in 2020, had initially tried shopping some or all of STX’s film library last year. STX, run by CEO Bob Simonds, would be uncoupled from Eros if a new deal comes together.

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Lionsgate has been a source of significant M&A speculation in recent months, given its independent status and substantial film and TV library. In November, the company announced that it would explore options for its Starz premium channel/streaming service, including a sale or spinoff. If that deal were to happen, Lionsgate would become a pure-play film and TV studio and could benefit from a beefed-up library such as that owned by STX.
Representatives from Lionsgate and STX declined to comment.
Variety first reported the sale talks.
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