Stx Entertainment is in discussion with a Saudi Arabia investment fund to bring in much needed capital, an individual with knowledge of the talks told TheWrap.
As TheWrap previously reported, the five-year-old studio has been eagerly seeking a cash investment or a potential buyer in recent weeks, after a string of flops at the box office. The studio recently put off an upcoming movie release starring Dave Bautista and let a Jennifer Lopez project go to Universal.
The investment would make Stx the first major Hollywood entity to take money from Saudi Arabia since the murder of Washington Post opinion writer and Saudi dissident Jamal Khashoggi in October 2018. (U.S. intelligence reports confirm that Crown Prince Mohammed bin Salman himself ordered Khashoggi killed.)
The individual said that the investment discussions were being driven directly by the crown prince, via a government-backed fund. “It’s his way of showing that his money...
As TheWrap previously reported, the five-year-old studio has been eagerly seeking a cash investment or a potential buyer in recent weeks, after a string of flops at the box office. The studio recently put off an upcoming movie release starring Dave Bautista and let a Jennifer Lopez project go to Universal.
The investment would make Stx the first major Hollywood entity to take money from Saudi Arabia since the murder of Washington Post opinion writer and Saudi dissident Jamal Khashoggi in October 2018. (U.S. intelligence reports confirm that Crown Prince Mohammed bin Salman himself ordered Khashoggi killed.)
The individual said that the investment discussions were being driven directly by the crown prince, via a government-backed fund. “It’s his way of showing that his money...
- 7/19/2019
- by Trey Williams and Sharon Waxman
- The Wrap
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