Who is the new owner of STX Entertainment?

Crown Productions, a subsidiary of A-CAP, is the new owner of STX Entertainment.

What is the new focus for STX Entertainment?

STX Entertainment will now focus on producing quality films with budgets up to $20 million.

Who is exiting STX Entertainment in the ownership change?

STX founder Robert Simonds and CEO Noah Fogelson are exiting the company.

Home / Business and Economy / STX Entertainment Undergoes Major Ownership Change

STX Entertainment Undergoes Major Ownership Change

8 Jan

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Summary

Crown Productions will lead STX's recapitalization, acquiring full ownership.
STX founder Robert Simonds and CEO Noah Fogelson are exiting the company.
STX plans to focus on quality films with budgets up to $20 million.

STX Entertainment Undergoes Major Ownership Change

Beleaguered STX Entertainment is embarking on a significant reset with Crown Productions, the film financing subsidiary of insurance platform A-CAP, leading a recapitalization that will result in Crown owning 100% of STX. This transition sees the exit of STX founder and chairman Robert Simonds and chief executive Noah Fogelson.

Peter Coleman, CEO of Film Finances International (FFI), will now head STX, which aims to concentrate on producing quality films with budgets up to $20 million. The company plans to release two to three films this year, with a goal to double that number by 2027. Coleman highlighted that STX will utilize the combined ecosystem of STX and FFI to support filmmakers from development through distribution.

STX currently has projects in post-production, including Katie Holmes' "Happy Hours Trilogy," and has others in development such as "Mom Prom" and projects based on "Bad Moms" and "Hustlers" IP. Coleman expressed confidence that the company's brand and intellectual property remain valuable, now bolstered by new ownership and capital to finance its future slate.