The combined company, to be known as Eros STX Global Corp., will be publicly tradedIndian movie producer Eros International Plc is merging with privately-held U.S. filmmaker STX Entertainment in an all-stock deal that brings together Bollywood and Hollywood. Although discussions began six months ago, final terms were hammered out in recent weeks over conference calls, with part of the Eros deal team dialing in from India. STX films include comedian Amy Schumer's "I Feel Pretty" and Jennifer Lopez's "Hustlers" . The combined company expects to release 40 feature-length films this year, as well as content for services such as Netflix, Hulu and Amazon. The combined company will have $600 million in pro forma revenue for 2019 and $300 million of "highly predictable" future revenue from STX films that have already been released.

Source: Ethiopian News April 17, 2020 22:41 UTC