Eros International announces all-share merger with STX Entertainment

Over $75 million in commitments have been already received, while the rest will be tied-up before the execution of the merger

In a first of its kind deal, Indian movie producer and distributor Eros International on Saturday announced an all-share merger with Hollywood's STX Entertainment to create an equally-held global entertainment company.

The six-year-old, privately-held STX has done 34 movies including 'Hustlers' and 'Bad Moms' which have cumulatively grossed $1.5 billion, while Eros focuses primarily on the Indian and diaspora markets by producing movies and distributing them  through an OTT platform.

In the past, a lot of Indian actors have gone to Hollywood and Indian businesses like Anil Ambani's Reliance Entertainment have taken equity stakes in Hollywood companies.

The deal, which comes at a