Is This Hollywood’s Next Major Studio? Bob Simonds & TPG Growth’s Venture Fully Financed

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The success of any film studio depends greatly on the financial strength that it has. That being said, industry insiders are strongly speculating regarding the future of the STX Entertainment, a studio that has been the dream project of veteran movie producer Bob Simonds. In 2014, Bob Simonds came up with his new studio STX Entertainment. The project is meant to finance, produce as well as self-distribute movies that are going to appeal to a wider base of audience who have a penchant for enjoying movies with mature content. The STX Entertainment is being financed by Robert Simonds, Gigi Pritzker, the Chinese firm Hony Capital and TPG Growth. The grand plans that Bob Simonds has with STX Entertainment has already attracted the attention of numerous industry insiders who are currently speculating whether the studio has what it takes to be the next major studio in Hollywood.

One of the main reasons why STX Entertainment has garnered so much attention from industry insiders is because it has already surpassed the traditional business methods and business structure to directly deal with the exhibitors all over the country and book screens for the shows over the next 5 to 6 years. The company is all set to spend more than one billion dollars within the next 5 years. Such statements have been seen as somewhat bold by many industry insiders who are not sure whether STX Entertainment can deliver the goods that it claims to offer. However, David Shaheen, the JP Morgan professional who has been involved with STX Entertainment for quite some time clearly states that the company is certainly all set with the financing that it states.

STX Entertainment has already been able to rope in some of the best exhibitors in the industry, namely AMC Theaters, Cinemark, Regal Entertainment Group and Carmike. These leading exhibitors have entered into separate negotiations with this joint venture. The exhibitors wanted proof to see that the joint venture had the kind of capital it claimed before they can agree on the terms about the number of screens that they can allot for STX Entertainment on a per year basis. This is actually a groundbreaking business concept since it involves STX Entertainment making direct deals with all the theater owners.

Among all the investors who are associated with this project, TPG Growth is the largest stakeholder involved with this new project. TPG Growth is a well known global private investment company that has already invested in numerous major projects in the past like CAA and Univision. Bill McGlashan, the head of the firm TPG Growth has been involved with business dealings with the Chinese for more than the last 25 years. This means that they can bring in their experience and professional acumen to contribute in their own ways to the growth and expansion of STX Entertainment. This has certainly put STX Entertainment is a much stronger foothold that some of the other startup studio firms looking to make it big in the movie industry.   

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