EXCLUSIVE: We hear that STX Entertainment has made cuts in notably its theatrical distribution and marketing departments in the lower level executive tiers and down. The news comes as STX is pivoti…
has made cuts in notably its theatrical distribution and marketing departments in the lower level executive tiers and down.
The news comes as STX is pivoting away from 12 theatrical releases a year, and more toward a multi-tiered distribution model. STX plans to make 15 films a year with five destined for the big screen and the balance split between straight-to-streaming, or international theatrical distributed/PVOD-or direct-to-streaming titles.
STX is currently re-organizing itself financially; de-merging from Eros, and segueing to the Najafi Companies. There was an option on the table to have STX absorbed by Lionsgate, both library and staff; a bid STX full-out rejected, I hear, so that they can remain an independent studio.
Many have perceived that move by STX as re-arranging deck chairs on the Titanic; I hear that’s not the case and a lot of this agita has to do with the divorce from Eros. Once STX has its house of cards in order, they plan to re-hire in other departments.was sold to Showtime in a deal north of an estimated $15M. The movie received a limited theatrical release on April 1 and to date has earned $1M. The pic’s financier 30West filmed a complaint in a U.S.
Michael Viane, STX’s co-president of theatrical distribution recently went over to Comscore as their Head of Global Revenue. Head of theatrical distribution Kevin Grayson remains in addition to STXfilms Chairman Adam Fogelson, Co-President and General Counsel Noah Fogelson, Production Boss Sam Brown, President of Marketing Keri Moore and President of Media and Marketing Amy Elkins among other senior level executives.