A filing by Eros STX Global Corp. this week has revealed that the company is shopping rights to its film library in order to pay off over $150 million in debt.
The company’s statement to regulators says that it has “entered into an exclusive negotiation period with a third party to monetize the revenue from 46 films in its library.”
That third party was not revealed. The filing says STX is exclusively shopping the library revenue stream and will retain derivative and ancillary rights, allowing STX to develop remakes and sequels based on the existing IP.
STX’s library includes “Greenland,” “Hustlers,” “The Edge of Seventeen,” “Valerian and the City of a Thousand Planets,” “21 Bridges,” “Molly’s Game,” “The Mauritanian,” “The Gentlemen,” “Horizon Line” and franchises like “Bad Moms” and “The Boy”.
Source: The Wrap
