Eros International

Glancy Prongay & Murray LLP Announces Pendency of Class Action and Proposed Settlement Involving Purchasers of Eros Shares and/or Common Stock

Retrieved on: 
Monday, August 21, 2023

YOU ARE ALSO NOTIFIED that Lead Plaintiffs in the Action have reached a proposed settlement of the Action for $25,000,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.

Key Points: 
  • YOU ARE ALSO NOTIFIED that Lead Plaintiffs in the Action have reached a proposed settlement of the Action for $25,000,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
  • If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund.
  • If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than December 6, 2023.
  • All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.

Triller Announces Prem Parameswaran Has Joined Company as President of Corporate Finance and Investor Relations

Retrieved on: 
Friday, October 14, 2022

LOS ANGELES, Oct. 14, 2022 /PRNewswire/ -- Triller, an integrated technology and entertainment company that operates at the intersection of music, sports, and lifestyle content, events, and experiences, announced that Prem Parameswaran has joined the company as the President of Corporate Finance and Investor Relations. Parameswaran will lead all aspects of corporate finance and investor relations.

Key Points: 
  • LOS ANGELES, Oct. 14, 2022 /PRNewswire/ -- Triller, an integrated technology and entertainment company that operates at the intersection of music, sports, and lifestyle content, events, and experiences, announced that Prem Parameswaran has joined the company as the President of Corporate Finance and Investor Relations.
  • Parameswaran will lead all aspects of corporate finance and investor relations.
  • "At this pivotal time for Triller, we are thrilled to have Prem on our team," said Mahi de Silva, Triller's Chief Executive Officer.
  • Parameswaran joins Triller with more than 30 years of global finance experience.

Eros Enters Into a New Era of Global Media and Entertainment

Retrieved on: 
Monday, April 25, 2022

In an environment attracting significant investments and M&A potential, especially following the Sony-Zee merger, Eros Media is one of only a few stand-alone media players at scale.

Key Points: 
  • In an environment attracting significant investments and M&A potential, especially following the Sony-Zee merger, Eros Media is one of only a few stand-alone media players at scale.
  • The opportunities in the Eros Now Music business form an integral part of Eros Medias studio division.
  • Eros strategic partnership with Xfinite for global AVOD monetization allows for Eros Now to efficiently monetise a large and engaged userbase.
  • 1 Eros Investments is an investment company controlled by the Lulla family that invests in nurturing global, pioneering ventures including with Eros Media, XFinite and Mzaalo.

ErosSTX Receives NYSE Extension for Delayed Annual Report and Regains Compliance with NYSE Minimum Trading Price Requirement

Retrieved on: 
Tuesday, February 22, 2022

The NYSE notified the Company that it will closely monitor the Companys progress with the interim milestones the Company previously submitted to the NYSE.

Key Points: 
  • The NYSE notified the Company that it will closely monitor the Companys progress with the interim milestones the Company previously submitted to the NYSE.
  • Failure to achieve these interim milestones could result in an accelerated trading suspension prior to May 31, 2022.
  • The NYSE separately notified the Company that it regained compliance with the NYSEs minimum trading price requirement.
  • In the event the Company again falls below thresholds, the Company will be subject to immediate review by the NYSE.

Eros Now and Airtel Xstream Premium Announce Unique Partnership for Video Subscribers

Retrieved on: 
Wednesday, February 16, 2022

The symbiotic partnership allows Eros Now to expand its reach further by tapping into Airtel's 300+ million customer base across India.

Key Points: 
  • The symbiotic partnership allows Eros Now to expand its reach further by tapping into Airtel's 300+ million customer base across India.
  • The partnership is in line with Eros Now's strategy to focus on direct-to-consumer relationships while strengthening and expanding key distribution partnerships.
  • As part of the partnership, Eros Now will also be available across new bundled offerings to customers on Airtel Xstream Android set-top-boxes and Airtel Xstream Fiber.
  • With video consumption on the rise, the synergies between Eros Now and Airtel are expected to help both brands achieve their customer focused goals.

ErosSTX Announces Reverse Stock Split

Retrieved on: 
Friday, January 28, 2022

Eros STX Global Corporation (NYSE: ESGC) (ErosSTX, the Company, we or our) today announced that its Board of Directors has approved a one-for-twenty reverse split of its issued and outstanding A and B ordinary shares (the "Reverse Stock Split").

Key Points: 
  • Eros STX Global Corporation (NYSE: ESGC) (ErosSTX, the Company, we or our) today announced that its Board of Directors has approved a one-for-twenty reverse split of its issued and outstanding A and B ordinary shares (the "Reverse Stock Split").
  • The new CUSIP number for the A ordinary shares following the Reverse Stock Split will be G3788R105.
  • The Reverse Stock Split will not modify any rights or preferences of the Company's ordinary shares and there will be a proportionate adjustment in the par value per share.
  • (Computershare), the Companys transfer agent, will act as the exchange agent for the Reverse Stock Split.

SLING TV adds leading South Asian service Eros Now

Retrieved on: 
Thursday, December 16, 2021

ENGLEWOOD, Colo., Dec. 16, 2021 /PRNewswire/ -- SLING TV , the leading provider of international news and entertainment, continues to expand its South Asian offering with the addition of Eros Now, a leading over-the-top (OTT) South Asian entertainment platform owned by Eros STX Global Corporation (NYSE: ESGC) ("ErosSTX" or "the Company"), a global entertainment company.

Key Points: 
  • ENGLEWOOD, Colo., Dec. 16, 2021 /PRNewswire/ -- SLING TV , the leading provider of international news and entertainment, continues to expand its South Asian offering with the addition of Eros Now, a leading over-the-top (OTT) South Asian entertainment platform owned by Eros STX Global Corporation (NYSE: ESGC) ("ErosSTX" or "the Company"), a global entertainment company.
  • "SLING TV is the leading American provider of South Asian content and continues to perfect our offering to connect consumers to the content they love," said Liz Riemersma, VP of International, SLING TV.
  • With Eros Now packaged and bundled on a popular service like SLING TV, the audiences will get access to the best catalogue of Indian Films and Originals Series," said Ali Hussein, Chief Executive Officer, Eros Now.
  • Customers may also purchase Eros Now as a standalone service or as an add-on to another SLING TV service for $5 per month.

ErosSTX Enters Into a Definitive Agreement for the Sale of its STX Entertainment Subsidiary to The Najafi Companies

Retrieved on: 
Tuesday, December 7, 2021

At the closing of the transaction contemplated by the purchase agreement, an affiliate of Najafi will acquire STX Entertainment through the purchase of all of the issued and outstanding shares of common stock of a parent entity of STX Entertainment and wholly-owned subsidiary of ESGC.

Key Points: 
  • At the closing of the transaction contemplated by the purchase agreement, an affiliate of Najafi will acquire STX Entertainment through the purchase of all of the issued and outstanding shares of common stock of a parent entity of STX Entertainment and wholly-owned subsidiary of ESGC.
  • Under specified circumstances set forth in the purchase agreement, Najafi will be required to pay ESGC a termination fee of $4.5 million (less the $2 million Najafi deposit) if Najafi fails to close the transaction.
  • The transaction with Najafi is subject to customary closing conditions, including its lenders confirmatory due diligence.
  • The Najafi Companies, based in Phoenix with offices in Los Angeles and New York, is an entrepreneurially driven private investment company founded by Jahm Najafi in 2002.

ErosSTX Enters into Exclusive Negotiations for the Sale of its STX Entertainment Subsidiary and Extends STX Debt

Retrieved on: 
Tuesday, November 16, 2021

Eros STX Global Corporation (NYSE: ESGC) (ErosSTX or the Company) today announced that it has entered into exclusive negotiations with a third party for the sale of its STX Entertainment subsidiary, during which the parties will conduct mutual diligence and negotiate definitive agreements.

Key Points: 
  • Eros STX Global Corporation (NYSE: ESGC) (ErosSTX or the Company) today announced that it has entered into exclusive negotiations with a third party for the sale of its STX Entertainment subsidiary, during which the parties will conduct mutual diligence and negotiate definitive agreements.
  • The Company has engaged Lazard as a financial advisor to assist in the sale process.
  • There can be no assurance that the negotiations or any process will result in a transaction.
  • The Company does not intend to provide announcements or updates unless or until it determines that further disclosure is appropriate or necessary.

Eros Now Launches a Bollywood Film Festival on Facebook Powered by Mzaalo this Diwali

Retrieved on: 
Tuesday, November 2, 2021

Eros Now, a leading over-the-top (OTT) South Asian entertainment platform owned by Eros STX Global Corporation (NYSE: ESGC) ("ErosSTX" or "the Company"), a global entertainment company, is launching a month-long Bollywood Film Festival on Facebook Watch this Diwali.

Key Points: 
  • Eros Now, a leading over-the-top (OTT) South Asian entertainment platform owned by Eros STX Global Corporation (NYSE: ESGC) ("ErosSTX" or "the Company"), a global entertainment company, is launching a month-long Bollywood Film Festival on Facebook Watch this Diwali.
  • The movies will be powered by Mzaalo, a blockchain-based video streaming application in the gamified video and entertainment ecosystem.
  • Eros Now has carefully picked the movies to ensure the right balance of genres, scale, and relevance during the festive season.
  • Vikram Tanna, Chief Operating Officer, Mzaalo says, This industry first initiative is a great example of democratizing the best of Bollywood content.