Robert Simonds, STX chairman and CEO, made the announcement Thursday. Simultaneous with the investment, Bruce Mann, chief programming officer of Liberty Global, will join STX’s board of directors.
“Having one of the world’s biggest content distributors incentivized in STX’s continued success is gratifying confirmation of our brand and business strategy,” said Simonds. “We look forward to benefiting from Bruce and Liberty Global’s counsel to accelerate our plans for expansion.”
Mann said, “I am so pleased to be part of the team that made this investment in STX. In this unprecedented and transformative time in our industry, it is more imperative than ever to align with the best partners and most forward-looking leaders. With Bob, the STX team and its other sophisticated investors, I can’t think of a more proven group to chart the course for the future of entertainment.”
Simonds founded STX in March, 2014, with TPG Growth. Its biggest box office success was “Bad Moms” last year. It recently released the U.S./China co-production “The Foreigner” with Jackie Chan and “A Bad Moms Christmas,” a follow-up to “Bad Moms,” and in December, will debut “Molly’s Game,” starring Jessica Chastain.
STXtv just announced “Valley of the Boom” which will premiere globally on National Geographic. Its VR division has a deal with Horizon Media to become its exclusive VR and 360 content provider.
Malone also has an 8% interest in Lionsgate through personal holding and through Liberty Global and Discovery Communications. Lionsgate paid $4 billion last year for premium cable channel Starz. Malone was the largest voting shareholder in Starz and has a seat on the Lionsgate board.