esgc - ESGC STOCK NEWS

SLING TV has expanded its South Asian offerings by adding Eros Now, a premier OTT platform owned by Eros STX Global Corporation (NYSE: ESGC). This addition provides SLING subscribers access to over 1,500 titles, with plans to grow the library to over 6,000 titles in various regional languages including Hindi and Tamil. Eros Now can be accessed through the Desi Binge package or as a standalone service for $5 per month. This partnership aims to enhance SLING's reputation as a leading provider of South Asian content in North America.

Eros STX Global Corporation (NYSE: ESGC) announced a definitive agreement to sell its STX Entertainment subsidiary to Najafi Companies for $173 million. The deal includes a 45-day 'go-shop' period for alternative proposals. STX's current debt stands at approximately $148 million, which will be repaid upon closing. ErosSTX expects to complete the transaction by the end of January 2022. Lazard serves as financial advisor for ESGC, while Najafi is partnering with The Forest Road Company for financial backing.

The Najafi Companies has announced a definitive agreement to acquire STX Entertainment, a subsidiary of Eros STX Global Corporation (NYSE: ESGC), with the transaction expected to close by January 2022. This acquisition involves buying all issued shares of STX's parent entity, which will enable Najafi to refinance STX's debt and make significant growth investments. Najafi will collaborate exclusively with The Forest Road Company for this strategic endeavor, aiming to enhance storytelling in the entertainment industry.

Eros STX Global Corporation (NYSE: ESGC) is engaged in exclusive negotiations to sell its STX Entertainment subsidiary. The company has enlisted Lazard as a financial advisor for this process. There is no guarantee that these negotiations will lead to a transaction. Additionally, on November 12, 2021, STX Financing, LLC amended its Senior Credit Agreement to extend maturity and delivery dates. As of that date, $127.4 million and $23.4 million remained outstanding under respective credit agreements, with potential extensions based on the sale agreements.

STXfilms, a division of Eros STX Global Corporation (NYSE:ESGC), has secured a first-look film deal with CrossCheck Studios, founded by Josh Richards and Michael Gruen. This collaboration aims to produce original films, starting with the comedy Halloween Party, where Richards will star. The partnership intends to engage a new generation of storytellers and audiences, particularly Gen Z. STXfilms has grossed over $1.8 billion in global box office in five years, showcasing its significant market presence.

Eros Now, owned by Eros STX Global Corporation (NYSE: ESGC), is set to launch a Bollywood Film Festival on Facebook Watch from November 3 to December 2. This month-long event will feature a movie premiere daily from Eros Now's library of over 12,000 Indian films. The initiative aims to enhance viewer engagement during the festive season, leveraging data indicating increased viewership for Bollywood films. Eros Now boasts a community of 10 million fans on Facebook, emphasizing the significance of Bollywood content in India's digital landscape.

Eros STX Global Corporation (NYSE: ESGC) announced its acquisition of worldwide rights to the supernatural thriller Bed Rest, starring Melissa Barrera and directed by Lori Evans Taylor, marking her directorial debut. Production begins next month in Winnipeg. The film follows Julie Rivers, who, after being placed on mandatory bed rest during her pregnancy, encounters ghostly experiences that threaten her mental stability. STXfilms will distribute the film in the US, UK, and Ireland directly, while introducing it to international buyers at the Virtual AFM next week.

STXtelevision, a division of Eros STX Global Corporation (NYSE:ESGC), has partnered with Reel One Entertainment to develop an English adaptation of the award-winning Belgian series 'Team Chocolate.' The series, which revolves around Jasper Bloom, a young man with Down's syndrome, showcases his journey in a chocolate factory and his quest for love. The original series won multiple awards, including Best Drama Series at the Diversity TV Excellence Awards. Both companies aim to maintain the authenticity and inclusive casting of the original production.

Eros STX Global Corporation (NYSE: ESGC) announced that bondholders approved modifications to £50 million UK retail bonds due in 2021. Key changes include an extension of the maturity date to April 15, 2023, and an increase in the interest rate from 6.5% to 8.5%, effective October 15, 2021. Additionally, financial reporting covenants were extended to November 30, 2021, and January 31, 2022. These modifications aim to provide more time and better terms for the company to manage its financial obligations.