Eros India CEO Explains STX Merger Logic: “The Bigger Story Is on the OTT Side”

Pradeep Dwivedi says the two companies can complement each other in a bid to expand in India, appeal to Chinese sensibilities and compete with the streamers. When STX Entertainment unveiled ambitious plans in 2018 to make an initial public offering in Hong Kong — which, ultimately, didn’t come to fruition — the company expected to raise $500 million at a target valuation of $3.5 billion. Last Friday, STX surprised the industry with news that it would be merging with Bollywood movie studio Eros International. The combined entity will be named Eros STX Global Corp and listed on the New York Stock Exchange — with an estimated combined valuation of somewhere north of $1 billion. The deal represents a humbling comedown for STX. But the new Eros STX Global Corp also makes for a unique and unprecedented proposition in the global entertainment landscape: an ambitious Hollywood indie studio with worldwide theatrical distribution arrangements, combined with an old-school Bollywood film studio that also happens to own a wide-reaching local streaming service. Could such a tie-up — two companies with vastly different backgrounds and content strategies — prove to be a mutually advantageous match, or is it more of an awkward pairing forced by circumstance? STX… Read full this story

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