STX Entertainment Receives Liberty Global Investment; Adds Bruce Mann To Board

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Nov 30, 2017, 14:09 ET

LOS ANGELES, Nov. 30, 2017 /PRNewswire/ -- Robert Simonds, STX Chairman and CEO, today announced an investment from Liberty Global, the world's largest international television and broadband company. Simultaneous with the investment, Bruce Mann, Chief Programming Officer of Liberty Global, will join STX's board of directors.

Liberty Global operates in more than 30 countries across Europe, Latin America and the Caribbean with over 24 million customers who subscribe to over 50 million television, broadband internet and telephony services, and over 10 million mobile subscribers across 10 million access points.

As Chief Programming Officer of Liberty Global, Mann is responsible for directing its overall content strategy and annual programming spend, as well as overseeing its content investments. Previously, he served as CEO at XYZ Networks, a joint venture between Liberty Global and News Corp., and has held leading roles in media and sports with TVN, Austar Entertainment, Time Warner, E! Entertainment and The Washington Redskins.

Mann joins leaders from private equity firms TPG and China-based Hony Capital, as well as Tencent, the Chinese internet giant, PCCW, the global telecommunications provider, and business interests of Gigi Pritzker and Dominic Ng, among others, on the STX board.

"Having one of the world's biggest content distributors incentivized in STX's continued success is gratifying confirmation of our brand and business strategy," said Simonds. "We look forward to benefiting from Bruce and Liberty Global's counsel to accelerate our plans for expansion."

Added Mann, "I am so pleased to be part of the team that made this investment in STX. In this unprecedented and transformative time in our industry, it is more imperative than ever to align with the best partners and most forward-looking leaders. With Bob, the STX team and its other sophisticated investors, I can't think of a more proven group to chart the course for the future of entertainment."

The Company's film division recently released the U.S./China co-production "The Foreigner" with Jackie Chan and "A Bad Moms Christmas," a much-anticipated follow up to last year's hit, "Bad Moms," and in December, will debut "Molly's Game," by Academy Award-winning writer/director Aaron Sorkin.

On the television front, STXtv just announced "Valley of The Boom" which will premiere globally on National Geographic. Its VR division inked deals with Horizon Media, the largest private media agency, to become its exclusive VR and 360 content provider, and last month, became the only VR company to be given a dedicated channel on the Google Daydream platform.

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.

For more information, please visit http://www.stxentertainment.com.

About Liberty Global

Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect our over 24 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 10 million access points.

Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ: LBTYA, LBTYB and LBTYK) for our European operations, and the LiLAC Group (NASDAQ: LILA and LILAK, OTC Link: LILAB), which consists of our operations in Latin America and the Caribbean.

The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region connecting over 40 markets.

SOURCE STX Entertainment