esgc - ESGC STOCK NEWS

Eros STX Global Corporation (NYSE: ESGC) announced that STXfilms has hired F. Gary Gray to direct the upcoming action-comedy film Muscle, starring Vin Diesel. Gray, known for his successful collaborations, including The Fate of the Furious, will also serve as executive producer. Production is set to start later this year. The film's script has been crafted by John Swetnam and Malcolm Spellman, with other notable writers involved. This project adds to STX's increasing portfolio, which has grossed over $1.8 billion globally in just five years.

Eros STX Global Corporation (NYSE:ESGC) announced that STXfilms has acquired U.S. distribution rights to the psychological thriller The Marsh King's Daughter, starring Daisy Ridley and directed by Neil Burger. This acquisition, a partnership with Black Bear Pictures and Anonymous Content, aims to capitalize on their successful collaboration from The Upside, which grossed over $100 million domestically. The film, based on a bestselling novel, begins principal photography in Canada this June and will also be distributed internationally by STXinternational.

Eros STX Global Corporation (NYSE: ESGC) announced a favorable settlement with Manuel P. Asensio and his companies, resolving all disputes stemming from a lawsuit filed by Eros International Plc in 2017. The settlement amount remains undisclosed. Asensio acknowledged that his past critical statements have no relevance to the current Eros entities and expressed his best wishes for ErosSTX's future. ErosSTX focuses on acquiring and distributing films and digital content globally, significantly enhancing its presence following the 2020 merger with STX Entertainment.

Eros STX Global Corporation (NYSE: ESGC) announced the acquisition of rights to release the sci-fi adventure film Universe's Most Wanted, starring Dave Bautista, in the US, UK, and India. Directed by Brad Peyton, known for films grossing over $1.3 billion globally, production is set to begin in Melbourne, Australia, in late July. The film follows a sheriff and his son who assist an intergalactic peacekeeper to contain dangerous criminals. This collaboration builds on previous successful partnerships and highlights Eros STX's strategic growth in the entertainment sector.

Eros STX Global Corporation (NYSE: ESGC) released its unaudited financial statements for the six months ended September 30, 2020. Revenues fell to $144 million from $210 million year-over-year, primarily due to COVID-19's impact on global film releases. Operating expenses decreased to $152 million, resulting in an operating loss of $7 million. As of September 30, 2020, total debt was $384 million, with cash on hand at $82 million. The company anticipates ending fiscal 2021 with net debt below $325 million. Complete financial results are expected by April 30, 2021.

Eros STX Global Corporation (NYSE: ESGC) has announced a groundbreaking partnership with Google Cloud to utilize AI technology for automated subtitling on its Eros Now streaming platform. This makes Eros Now the first service globally to automate subtitling, enhancing user experience and engagement. The new feature will initially support Arabic subtitles, catering to the Arab audience interested in Indian cinema. Eros Now boasts over 211.5 million registered users and aims to eliminate language barriers, diversifying its content offering.

Eros STX Global Corporation (NYSE: ESGC) has finalized a multi-year output deal with Amazon Prime Video for the Nordics, enhancing their existing partnership in the UK, France, and Italy. SF Studios will handle the theatrical releases for most STX films in this region. Prime Video subscribers will gain exclusive access to STXinternational's titles, including upcoming films like The Mauritanian and a spy thriller featuring Jason Statham. This strategic expansion aims to increase the volume of commercial titles and strengthen their position in the evolving distribution landscape.

Eros STX Global Corporation (NYSE: ESGC) reported preliminary financial results for the nine months ending December 31, 2020. The company achieved an operating profit of $7 million, and adjusted operating profit of $22 million, a significant recovery from a $(99) million loss in the prior year. Revenues were $219 million, down from $315 million, primarily due to COVID-19's impact on global film releases. Operating expenses decreased to $212 million from $414 million. The company is engaging J.P. Morgan for global debt refinancing, targeting a reduction below $325 million in net debt.

Eros Now, owned by Eros STX Global Corporation (NYSE: ESGC), has forged marketing partnerships with major consumer brands in the Middle East, including Emirates NBD, National Bank of Fujairah, Fazaa, 6thStreet, and Emax. These collaborations aim to enhance user engagement by offering discounts on annual subscriptions. The online video subscription market in the MENA region is rapidly growing, with a projected revenue of over $400 million by 2023. As of September 30, 2020, Eros Now had 211.5 million registered users and 36.2 million paying subscribers, showcasing its strong market presence.