The formerly high-flying mini studio, which merged last year with Bollywood company Eros International, is looking to unload rights to its film output in a seller's market.
STX Eros is shopping the titles in a seller’s market, though, as established and nascent streaming services compete to bolster their content arsenals. Recent headline deals include Amazon’s $8 billion acquisition of MGM and the Blackstone-backed buyout of Reese Witherspoon’s Hello Sunshine.
Eros STX said additional moneys generated by any successful library deal would go to its balance sheet. STX made its surprise merger with Eros in 2020 after previously attempting, but failing, to go public on its own on the Hong Kong Stock Exchange. Eros has one of Bollywood’s largest film libraries and justified the deal as providing it with a library of Hollywood content to power its Indian streaming operation, Eros Now. The combined company is led by co-chairmen Kishore Lulla, the son of Eros founder Arjan Lulla, and STX’s founder Simonds.
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