STX Inks Multi-Year Contract With Universal Home Entertainment
STX Motion Picture, the studio co-founded by TPG Capital and Robert Simonds, sets up to release as many as 15 movies a year starting next year. And at the same time as it will deal out its theatrical releases, it says today that Comcast’s Universal Pictures Home Entertainment will advertise, market, and distribute discs, electronic sell-through, and Video-On-Demand — as part of a new multi-year deal.
STX Motion Picture Group Chairman Adam Fogelson who was also a former chairman of Universal Pictures said that Universal possesses one of the most hard line and creative home entertainment teams in the film business. He also added that their attitude of being platform doubter and allowing for development in new and promising areas of technique is very stimulating.
Universal Pictures president Peter Levinsohn returned the accolade, describing Simonds as one of the most pioneering and adept professionals in the film industry. He foresees a lengthy and flourishing collaboration with Simonds.
STX lately revealed its first 4 theatrical films: a psycho thriller, “The Gift” (with Jason Bateman and Rebecca Hall, out July 31); another thriller, “Secret In Their Eyes” (with Nicole Kidman, Julia Roberts and Chiwetel Ejiofor, , out October 23); horror film “The Boy” (with Lauren Cohan, out January 22); and action-drama “The Free State Of Jones” (with Matthew McConaughey, Keri Russell and Gugu Mbatha-Raw, out March 11).
Today’s announcement is the most recent in a series from STX about its preparations and plans. Last week it forged a 3-year investment deal with China’s biggest privately held film firm, Huayi Brothers Media Corp. In January it allowed to channel its releases to Showtime in the premium TV window. And early last year exhibitors involving AMC Theaters, Regal, Cinemark and Carmike agreed to provide number of screens every year for their product.