Following months of speculation The Najafi Companies has closed its acquisition of STX Entertainment.
Robert Simonds will serve as STX chairman and Noah Fogelson, currently president, becomes the new CEO. Adam Fogelson will continue to serve as chairman of the motion picture group, Andrew Warren will continue as CFO, and John Friedberg will continue to run international sales and acquisitions in London.
AS Birch Grove LP and 777 Partners provided financing for the deal, which cements STX Entertainment’s independence from Eros International. The Najafi Companies invests across multiple sectors and has “significant” holdings in consumer, media, brands, ecommerce, tech and sports.
Releases over the past 18 months include The Gentlemen, My Spy, The Mauritanian, The Contractor, and Queenpins. STX has expanded into television with the debut of reality show FBoy Island on HBO Max.