Independent distributor STX, which is heading toward a Hong Kong IPO, has secured an investment from telecom giant Liberty Global, the company announced Thursday.
Bruce Mann, Liberty’s chief programming officer, will join the STX board concurrent with the investment.
“Having one of the world’s biggest content distributors incentivized in STX’s continued success is gratifying confirmation of our brand and business strategy,” STX Chairman and CEO Robert Simonds said in a statement. “We look forward to benefiting from Bruce and Liberty Global’s counsel to accelerate our plans for expansion.”
“I am so pleased to be part of the team that made this investment in STX,” Mann said in a statement. “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.”
STX, which counts Chinese tech powerhouse Tencent among its investors, recently released Jackie Chan’s “The Foreigner,” a U.S.-China co-production and “A Bad Moms Christmas.” The studio will release Aaron Sorkin’s “Molly’s Game,” starring Jessica Chastain, in December. The company, which is planning an initial public offering on the Hong Kong Stock Exchange, is also involved television, virtual reality, digital video, music and live entertainment.
Liberty Global, whose chairman is media mogul John Malone, operates in more than 30 countries across Europe, Latin America and the Caribbean and counts more than 24 million TV, broadband and landline customers, as well as over 10 million mobile subscribers.