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Can Robert Simonds make STX Entertainment be the Next Major Studio in Hollywood?

Can Robert Simonds make STX Entertainment be the Next Major Studio in Hollywood?
May 24, 2018 Tom Clark

STX Entertainment has its new office in one of the tallest buildings in Burbank which literally towers over the competition. One can take a great view at Warner Bros, Disney and Universal from the windows of this start up i.e. STX Entertainment. It is its gleaming headquarters in Burbank.

The view is awesome and emblematic of STX Entertainments ambitions. Yes, as the title suggests, the ambition of STX Entertainment is to be the next major Hollywood studio. STX was launched by the famous film producer Robert Simonds who is also known as Bob Simonds, along with Bill McGlashan who is also the managing partner of TPG.

The two have taken a forward step to start this STX Entertainment with a mission to fulfill the goal in an entertainment business which has become budget fixated with super hero epics.

Also, the studio have plans in producing films in a strict budget of $20 million to $80 million by casting the big name and fame actors. The company has also aimed to release up to or even more than 15 films per year. This was decided last year i.e. 2017. To satisfy and achieve this goal, the company has also started and queued up projects with Matthew McConaughey, Julia Roberts, director Gary Ross and “The Purge” producer Jason Blum.

The company has a strong financial back up and capital from the co founder of TPG and also other investors like Hony Capital that is a private equity firm from China, Gigi Pritzker, Beau Wringley who is the CEO of WM, Dominic Ng who is the Chairmen of East west Bank, Liberty Global and others. The company is also financed by Huayi Brothers. Huayi Brothers have intentions of spending nearly $1.1 billion annually on producing, marketing and self-distributing its films by 2017.

This company also deals with Showtime Networks and Universal Pictures Home Entertainment. Still the decision which was made by Robert Simonds and Bill McGlashan is worth to having hats off.  Hollywood is having companies which are launched and once the project starts they either collapse or are faltered.

Today, the company which was started in 1994 by Steven Spielberg, David Geffen and Jeffrey Katzenberg is operating as a glorified production company. In addition to that the company headed by Ryan Kavanaugh, is continually hustling in raising the money even though it has few hits on its name. Many others production companies are on the same page. Orion Pictures and Savoy Pictures are amongst them which can only be remembered as memories now.