Rich Sullivan Promoted To Chief Operating Officer Of STXdigital, A Division Of STX Entertainment

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Feb 10, 2017, 10:30 ET

BURBANK, Calif., Feb. 10, 2017 /PRNewswire/ -- STX Entertainment, today announced the appointment of Rich Sullivan to Chief Operating Officer of STXdigital, a division of STX Entertainment. In this role, he will be focused on building out the company's digital business operations in premium short-form content, creating new franchises with the company's talent roster, establishing strategic partnerships across social and video platforms, supporting growth in VR and immersive experiences, establishing and accelerating data analytics capabilities, and partnering with Jason Goldberg, Chief Creative Officer of STXalternative and STXreality, to expand digital programming and OTT capabilities. Sullivan will assume the role immediately and will continue to be located at the company's headquarters in Burbank.

Sullivan was promoted to this newly created position having served as Chief Financial Officer for the corporation for the past two and a half years. As one of the early executive hires in the organization, Rich was instrumental in building out the company's financial and business operations. In that capacity, he has also helped in leading the company's expansion into its multi-platform business strategy including its recent acquisition of Surreal, a premiere content creation company in the Virtual Reality space.

In making the appointment, President of STX Entertainment Sophie Watts said, "Rich has been pivotal in STX's ongoing and aggressive growth and diversification as we lead the industry in transforming beyond traditional platform-driven content to creating talent-driven enterprises. In this new post, we will rely on Rich to lead key innovations that will accelerate the frictionless movement of creative experiences across all platforms."

Sullivan will continue to perform the duties of the CFO role until a successor is named. Prior to joining STX Entertainment, Sullivan was a senior executive at DreamWorks Animation where he served as its Deputy Chief Financial Officer. Over his tenure, his areas of responsibility have included corporate finance, treasury, investor relations and corporate strategy, playing a significant role in the company's digital acquisitions of Awesomeness TV and the talent-driven digital company Big Frame.

ABOUT STX ENTERTAINMENT

STX Entertainment is a global next-generation media company whose mission is to unlock the value of the direct connection stars have with their fans through the development, financing, production, marketing and distribution of film, television, VR, digital video, music and live entertainment content. It is the industry leader in transforming beyond traditional platform-driven content to creating talent-driven enterprises.

The company is led by accomplished businessman Robert Simonds and was co-founded by Bill McGlashan, managing partner of the leading global private investment firm TPG. Other investors include Hony Capital, a leading private equity firm in China; PCCW, Southeast Asia's largest Internet and cable services provider; Tencent Holdings, China's leading provider of online products and services; Dominic Ng, Chairman of East West Bank; DNS Capital (representing the business interests of Gigi Pritzker and her immediate family); and Beau Wrigley, former Chairman and CEO of the Wm. Wrigley Jr. Company, among others. With these strategic relationships, the company is uniquely positioned to maximize the impact of content worldwide, with direct passage into the China market.