The parent company of indie film and TV studio STX is shopping its film library rights in order to pay off debt of roughly $150 million and infuse the company with cash, a Wednesday regulatory filing said.
ErosSTX, which owns the producer of films like “Hustlers” and “Greenland,” revealed it had “entered into an exclusive negotiation period with a third party to monetize the revenue from 46 films in its library.” While the third party is unknown, the company is exclusively shopping the library revenue stream and will retain derivative and ancillary rights, allowing STX to develop remakes and sequels based on its existing IP.
Run by CEO Robert Simonds, STX’s library sale would resolve $150.1 million owed to a revolving credit facility from Jp Morgan and $22 million in mezzanine credit. The potential transaction would exceed the debt and add cash to STX’s balance sheet, sources said.
In a media landscape rife with consolidation,...
ErosSTX, which owns the producer of films like “Hustlers” and “Greenland,” revealed it had “entered into an exclusive negotiation period with a third party to monetize the revenue from 46 films in its library.” While the third party is unknown, the company is exclusively shopping the library revenue stream and will retain derivative and ancillary rights, allowing STX to develop remakes and sequels based on its existing IP.
Run by CEO Robert Simonds, STX’s library sale would resolve $150.1 million owed to a revolving credit facility from Jp Morgan and $22 million in mezzanine credit. The potential transaction would exceed the debt and add cash to STX’s balance sheet, sources said.
In a media landscape rife with consolidation,...
- 8/6/2021
- by Matt Donnelly
- Variety Film + TV
Don Jurwich, a longtime writer-director-producer at Hanna-Barbera and Marvel Productions, died July 13 of natural causes. He was 87.
Starting his career in animation as a layout and background artist, Jurwich worked his way up in storyboarding, eventually becoming a producer and director.
While working at Hanna-Barbera, Jurwich produced and directed “Scooby Doo,” “The Superfriends,” “Captain Caveman, “Richie Rich,” “Fonz and the Happy Days Gang,” along with one hour prime-time special, “Scooby Goes Hollywood.”
At Marvel, Jurwich directed “Spiderman and His Amazing Friends.” He also produced 85 half-hour episodes of “G.I. Joe,” along with the miniseries “G.I. Joe: The Movie,” which was later released as a feature film.
Over the course of his 40-year career, Jurwich contributed to animated series including “Road Runner,” “The Pink Panther,” “Rocky and Bullwinkle,” “The Flintstones,” “George The Jungle,” “Yogi Bear,” “Tom & Jerry” — along with their mini-me successor, the “Tom & Jerry Kids Show.” Jurwich also...
Starting his career in animation as a layout and background artist, Jurwich worked his way up in storyboarding, eventually becoming a producer and director.
While working at Hanna-Barbera, Jurwich produced and directed “Scooby Doo,” “The Superfriends,” “Captain Caveman, “Richie Rich,” “Fonz and the Happy Days Gang,” along with one hour prime-time special, “Scooby Goes Hollywood.”
At Marvel, Jurwich directed “Spiderman and His Amazing Friends.” He also produced 85 half-hour episodes of “G.I. Joe,” along with the miniseries “G.I. Joe: The Movie,” which was later released as a feature film.
Over the course of his 40-year career, Jurwich contributed to animated series including “Road Runner,” “The Pink Panther,” “Rocky and Bullwinkle,” “The Flintstones,” “George The Jungle,” “Yogi Bear,” “Tom & Jerry” — along with their mini-me successor, the “Tom & Jerry Kids Show.” Jurwich also...
- 8/5/2021
- by Jennifer Yuma
- Variety Film + TV
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