Respected business, finance and studio executive Michael Joe has joined global entertainment company STX Entertainment as COO of the Motion Picture Group, it was announced Tuesday by Adam Fogelson, chairman of the STX Entertainment Motion Picture Group.
STX is a fully diversified entertainment company that has been rapidly ramping up its development, production, and marketing of talent-driven film, television, and digital media content across worldwide, multi-platform distribution channels. Joe’s recruitment to STX signals the company’s focus on rounding out the motion picture group team while the parent company expands into other lines of business.
The company’s film studio aims to produce and distribute 12-15 major motion pictures a year, and is backed by blue chip financial partners that include TPG Growth and China-based Hony Capital.
Joe will be responsible for business operations and strategy for the company’s motion picture group, where he will have oversight of the film studio’s business affairs and film financing activities as well as supervise STX’s home entertainment, on-demand and television licensing activities, including management of the company’s home entertainment relationship and its premium television partnership with Showtime.
Joe will also be responsible for new growth-focused business development and partnership activities for STX’s film division. Additionally, Joe will work closely with Fogelson overseeing all aspects involving the business of the Motion Picture Group.
“I had the privilege of working with Michael for many years when we were together at Universal,” Fogelson said. “There are very few people in this industry with his depth or breadth of experience or understanding of our business. He is a disciplined and forward thinking leader whose financial acumen, business skills, and experience make him another extraordinary hire for our company and I am truly thrilled to be working with him again.”
“I am excited to be joining Adam, Oren and the team at STX, including my former colleagues David Kosse, Kevin Grayson, and Keri Moore. In a short period of time, STX has become a formidable motion picture producer and distributor, and I’m thrilled to be part of the team as they continue to build the studio for the future,” Joe added.
Joe’s relationship with STX began in March of 2014 when the global media company closed a financing deal with Seer Capital, where he oversaw media and entertainment investments.
Joe has nearly 20 years of experience in the film business. He started his career in the movie business in 1995 in the corporate development group at Universal Studios, and moved to Universal Pictures in late 1999 where he rose to executive VP of the studio. During his 12 years at Universal Pictures, he was responsible for business development, strategy, film financing, digital distribution and corporate oversight of Focus Features and Universal’s international production business.
In 2010, Joe left Universal and joined Relativity Media as president of the company. While at Relativity, he led the company’s efforts to become a domestic film distribution company, including negotiating the company’s long-term pay television arrangement with Netflix, acquiring Overture Films and negotiating a long-term home entertainment distribution arrangement with Fox.
In 2011, Joe joined Elliott & Associates, a New York-based hedge fund, where he was responsible for managing the firm’s entertainment investments, including a multi-year co-financing deal with Universal.
Since 2013, Joe has been Managing Director at Seer Capital, a New York-based investment firm, where he has been responsible for sourcing and managing the firm’s media and entertainment activities.