The hire was announced Tuesday by Adam Fogelson, chairman of the STX Motion Picture Group. The two-year-old company said Joe’s recruitment to STX signals the company’s focus on rounding out the motion picture group team while the parent company expands into other lines of business.
STX is producing and distributing 12-15 major motion pictures a year and is backed by TPG Growth and China-based Hony Capital. It’s released “The Gift,” its most successful film so far with $43 million in domestic grosses along with “The Boy,” “The Secret in Their Eyes” and “Hardcore Henry”
Joe will be responsible for business operations and strategy for the company’s motion picture group, where he will have oversight of the film studio’s business affairs and film financing activities as well as supervise STX’s home entertainment, on-demand and television licensing activities. He will also be responsible for new growth-focused business development and partnership activities for STX’s film division.
“I had the privilege of working with Michael for many years when we were together at Universal,” said Fogelson. “There are very few people in this industry with his depth or breadth of experience or understanding of our business. He is a disciplined and forward thinking leader whose financial acumen, business skills, and experience make him another extraordinary hire for our company and I am truly thrilled to be working with him again.”
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Joe’s relationship with STX began in March of 2014 when the global media company closed a financing deal with Seer Capital.
He started his career in the motion picture industry in 1995 in the corporate development group at Universal Studios, and moved to Universal Pictures in late 1999 where he rose to exec VP. During his 12 years at the studio, he was responsible for business development, strategy, film financing, digital distribution and corporate oversight of Focus Features and Universal’s international production business.
In 2010, Joe left Universal Pictures and joined Relativity Media as president of the company, where he oversaw efforts to become a domestic film distribution company, including negotiating the company’s long-term pay television arrangement with Netflix, acquiring Overture Films and negotiating a long-term home entertainment distribution arrangement with Fox.
In 2011, Joe joined Elliott & Associates, a New York-based hedge fund, where he was responsible for managing the firm’s entertainment investments, including a multi-year co-financing deal with Universal. Elliot was also an investor in Relativity and lost most of its investment when Relativity filed for bamkruptcy.
Since 2013, Joe has been managing director at Seer Capital, a New York-based investment firm, where he has been responsible for sourcing and managing the firm’s media and entertainment activities.