STX Entertainment Acquired by Najafi Companies

STX Entertainment has been sold to The Najafi Companies, solidifying its independence from Eros International.

AS Birch Grove LP and 777 Partners provided financing.

As an independent company, this transaction will serve as a growth engine to develop, market and distribute content globally through multiple distribution channels, including theatrical releases, international and direct to streaming services as well as VOD.

Robert Simonds will serve as STX chairman, and Noah Fogelson, currently the president, will become the new CEO. Adam Fogelson will continue to serve as chairman of the motion picture group. Andrew Warren will continue as chief financial officer. John Friedberg will continue overseeing the international and acquisitions divisions for the motion picture group out of the company’s London office.

STX Entertainment has had a successful 18 months, with The Gentlemen, My Spy, The Mauritanian, The Contractor and Queenpins. The studio has also expanded into television with the debut of the hit reality show FBoy Island on HBO Max.

“At a time when the demand for global content has never been greater, we are very excited about this rare opportunity to acquire STX Entertainment, one of the only remaining independent studios. As investors, we are long-term minded and we believe in the power of storytelling and fostering a studio that is friendly to storytellers,” said Jahm Najafi, founder and CEO of The Najafi Companies. “We have the utmost respect for this 100-year-old-plus ecosystem, and we look forward to supporting this partnership and the ways modern entertainment studios are evolving in the future.”

“The closing of this deal signifies STX’s position of leadership and its hopeful future within the film and television industry,” said Robert Simonds, chairman of STX. “We are excited to work alongside this highly respected investment company and are thankful for their continued support as we expand our library of star-driven content. We have solidified our international reputation and notable ambitions thus far, and we look forward to continually proving ourselves with each project we push forward.”

“In a relatively short amount of time, STX has helped create and distribute over 70 movies, many with stars and filmmakers who have made multiple projects with us,” said Noah Fogelson, STX CEO. “From The Gift, Bad Moms and Hustlers to The Upside, Molly’s Game, Greenland and upcoming Operation Fortune, the studio has, despite many headwinds, cemented a place in the industry. We’re thrilled that an investor as savvy as Jahm (Najafi) and The Najafi Companies see the value of the platform today and also what’s possible tomorrow.”