Winds of Change

STXfilms

This acquisition by Lionsgate comes during a period of immense shake-ups in recent years, such as AT&T getting into (and, just as quickly, out of) the movie distribution game with WarnerMedia, causing no shortage of headlines or, well, headaches given their massive impact on Warner Bros. library of movies going straight to HBO Max streaming. As for Lionsgate, the studio also acquired a partial stake in Spyglass Media Group in 2021, signaling their interest in expanding their own library of IP that has apparently extended to STXfilms, as well. Variety mentions that neither Lionsgate and STX had any comment on the matter.

Unfortunately, the move makes quite a bit of from STX’s perspective. According to the report, the studio was under $148 million in debt at the end of 2021 and, currently, STX finds itself only “days away” from arriving at a February deadline that would require making payments to its creditors. STX’s attempts to carve out its own niche in supplying the types of adult-oriented, mid-range movies that have increasingly disappeared over the years in favor of big budget blockbusters were certainly admirable, but ultimately doomed to fail amid an ever-changing theatrical environment. For all the talk among movie fans (me included!) about wanting studios to fund more movies like “Hustlers” or “Knives Out” (for which, notably, Lionsgate lost the sequel rights to Netflix), the numbers repeatedly show that audiences simply don’t turn out for them anymore — especially during a years-long pandemic. This, sadly, is the end result of those moviegoing trends.

Stay tuned to /Film for more updates as they come in.

STXfilms

By Jeremy Mathai/Jan. 26, 2022 3:36 pm EST

Only seven years after STX was first founded by film producer Robert Simonds, this would mark an ignominious conclusion to a studio that, Variety’s own words, “promised to be the champion and defender of the mid-budget theatrical movie, but only managed to field a few breakout hits.”

Winds of Change

This acquisition by Lionsgate comes during a period of immense shake-ups in recent years, such as AT&T getting into (and, just as quickly, out of) the movie distribution game with WarnerMedia, causing no shortage of headlines or, well, headaches given their massive impact on Warner Bros. library of movies going straight to HBO Max streaming. As for Lionsgate, the studio also acquired a partial stake in Spyglass Media Group in 2021, signaling their interest in expanding their own library of IP that has apparently extended to STXfilms, as well. Variety mentions that neither Lionsgate and STX had any comment on the matter.

Unfortunately, the move makes quite a bit of from STX’s perspective. According to the report, the studio was under $148 million in debt at the end of 2021 and, currently, STX finds itself only “days away” from arriving at a February deadline that would require making payments to its creditors. STX’s attempts to carve out its own niche in supplying the types of adult-oriented, mid-range movies that have increasingly disappeared over the years in favor of big budget blockbusters were certainly admirable, but ultimately doomed to fail amid an ever-changing theatrical environment. For all the talk among movie fans (me included!) about wanting studios to fund more movies like “Hustlers” or “Knives Out” (for which, notably, Lionsgate lost the sequel rights to Netflix), the numbers repeatedly show that audiences simply don’t turn out for them anymore — especially during a years-long pandemic. This, sadly, is the end result of those moviegoing trends.

Stay tuned to /Film for more updates as they come in.

Unfortunately, the move makes quite a bit of from STX’s perspective. According to the report, the studio was under $148 million in debt at the end of 2021 and, currently, STX finds itself only “days away” from arriving at a February deadline that would require making payments to its creditors. STX’s attempts to carve out its own niche in supplying the types of adult-oriented, mid-range movies that have increasingly disappeared over the years in favor of big budget blockbusters were certainly admirable, but ultimately doomed to fail amid an ever-changing theatrical environment. For all the talk among movie fans (me included!) about wanting studios to fund more movies like “Hustlers” or “Knives Out” (for which, notably, Lionsgate lost the sequel rights to Netflix), the numbers repeatedly show that audiences simply don’t turn out for them anymore — especially during a years-long pandemic. This, sadly, is the end result of those moviegoing trends.

Stay tuned to /Film for more updates as they come in.