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 fili…
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.
In a media landscape rife with consolidation, even lean film libraries are considered formidable assets. STX’s willingness to part with ownership of theirs — which also includes films “Bad Moms” and “Poms” — is part of a strategy to make the company nimbler in an aggressive sellers market, another source noted.
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