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Eros Media World PLC (EMWP) has announced a strategic partnership with Arabia Pictures Group to explore content production and technology opportunities in the Saudi Arabian market. This partnership is significant as it marks the first collaboration between an Indian media company and a Saudi organization in entertainment. The Saudi government plans to invest approximately $6.9 billion in its film industry as part of Vision 2030, aiming to diversify the economy. The companies will also delve into Web3 and blockchain technologies to enhance the entertainment ecosystem.
Eros Media World Plc (NYSE: ESGC) has received an extension from the NYSE until August 1, 2022, to file its annual report on Form 20-F for the fiscal year ending March 31, 2021, along with its Semi-Annual Report on Form 6-K for the six months ending September 30, 2021. The NYSE will monitor the company's progress, warning that failure to meet interim milestones may lead to an accelerated trading suspension. The delay is attributed to the completion of the audit process, following significant corporate changes, including the sale of STX Entertainment.
Eros Media World PLC (NYSE: ESGC) announced that its subsidiary, Eros International Media Limited (EIML), plans to raise approximately
Eros STX Global Corporation (NYSE: ESGC) will officially change its name to Eros Media World PLC and its ticker symbol to EMWP on approximately June 6, 2022. This change follows the issuance of a Certificate of Change from The Isle of Man Companies Registry. The transition aims to reflect the company's focus on global media and entertainment, enhancing its position in the market.
Eros Media World Plc (NYSE: ESGC) has provided a comprehensive update on its operations as the company navigates post-pandemic challenges. CEO Pradeep Dwivedi affirmed that Eros is current on all debt obligations across India, the UK, and UAE. The firm boasts one of the largest film libraries in the Indian media sector, focusing on monetizing content through Eros Motion Pictures and Eros Now. Additionally, Eros is preparing to file financial statements for the fiscal year ending March 31, 2021, and has received an extension from the NYSE until May 31, 2022.
Eros STX Global Corporation (NYSE: ESGC) announced key developments including the sale of its STX subsidiary, retaining a 15% stake for future monetization. The company repaid $152 million in debt, expects over $120 million in revenues for FYE 2023, and aims to reduce net debt to $115 million. New leadership includes Rishika Lulla Singh as Executive Chair and Pradeep Dwivedi as CEO. Eros will rebrand as Eros Media World PLC, focusing on revenue growth through its content library and digital platforms, while leveraging blockchain and NFTs for monetization opportunities.
Comcast announces the launch of the Eros Now app on its X1 and Flex platforms, replacing the previous SVOD service. This partnership provides Xfinity customers access to over 12,000 titles, including blockbuster Bollywood films and original series.
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Eros STX Global Corporation (NYSE: ESGC) announced that the NYSE granted an extension until May 31, 2022 to file its annual report on Form 20-F for the fiscal year ending March 31, 2021. The NYSE will monitor the Company's progress with interim milestones, with the risk of accelerated trading suspension if not met. Additionally, ESGC has regained compliance with the minimum trading price requirement as of February 21, 2022, with its closing price consistently above $1.00.
Eros Now has expanded its partnership with Airtel to integrate its OTT content library into the Airtel Xstream Premium platform. This collaboration leverages Airtel's vast customer base of over 300 million, enabling users access to over 12,000 movies, Originals, and other content. The partnership aims to enhance both companies' direct-to-consumer strategies and improve customer experience through precise content targeting. This move comes amid a rising demand for video content in India, where Airtel leads in video consumption and 4G penetration.
STXfilms has acquired worldwide rights to the biopic Ferrari, directed by Michael Mann and starring Adam Driver, Penélope Cruz, and Shailene Woodley. The film, based on Brock Yates’ book, focuses on Enzo Ferrari's tumultuous life during a crisis in 1957. Principal photography will begin in Italy this spring. Mann, a four-time Academy Award nominee, aims to capture the emotional depth of Ferrari's story. The film is anticipated to start production soon, with STXfilms expressing excitement over the compelling cast and narrative.