11 years ago, Eros International Media Limited, which was formed from a private limited to a public limited company, has made a new scandal in the era of Corona. Eros International, which has made films like Badlapur, Bajrangi Bhaijaan and Bajirao Mastani, has now entered a new company name on the New York Stock Exchange with a Hollywood company. The name of this new company will be Eros STX Global Corporation. STX Entertainment Company has been an aspiring Hollywood start-up company and has made popular films like Hustlers and Bad Mom. The new company formed by combining the two companies also has a big market in China and OTT customers of Eros Now.
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The price of Eros shares on the National Stock Exchange closed on Friday at 14 rupees 90 paise. In just five years, the company's stock price has come down from its highest level of Rs 629 to 75 paise. The effect of this new announcement will be known when the Indian stock market opens on Monday. The impact of this announcement in Wall Street showed that on Friday, the price of Eros International increased from $ 1.09 to $ 3.05. Whereas in the last one year, the price of these shares had fallen more than 60 percent there.
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Eros' name has been taken with great respect in Mumbai film industry till few years back. Apart from its films, its OTT also helped in increasing the company's credibility. But, people who have worked with the company for the last one year have been telling about the payment problem. The company's current CEO Kishore Lula will now have to vacate his chair after the two companies come together. STX co-founder Robert Simonds will be the CEO of the new company. Simonds has sent information about this to his company's staff, according to him, Eros Now OTT has 18.8 million registered subscribers and about 26 million regular customers. According to a Hollywood Reporter news, Robert Simmonds will be CEO in the new company, Andrew Warren of STX will work as CFO and Prem Parameswaran of Eros will be the head of corporate strategy in the new company.