Eros STX Global Corporation (ESGC) shares declined 5.48% in after-hours on Thursday, August 19, 2021, and closed the daily trading at $0.67 per share. ESGC’s stock gained 7.69% to close Thursday’s session at $0.71. ESGC shares have fallen 74.37% over the last 12 months, and they have moved up 14.91% in the past week. Over the past three months, the stock has lost 46.21%, while over the past six months, it has declined 65.53%.
Let’s have a look at its recent news and development.
ESGC and Amazon Prime collaboration
On August 19, 2021, Eros STX Global Corporation (ESGC) and Amazon Prime Video signed a multi-year first window output deal in South Africa, effective immediately. This deal expands on the existing strategic pan-European output partnership the two companies struck in the UK, France, Italy, and Scandinavia in 2021.
Also, Empire Entertainment and Eros STX have renewed their theatrical output deal, first struck in 2015. The partnership has proven extremely successful for the two companies.
ESGC Files Form 20-F extension
On August 03, 2021, Eros STX Global Corporation (ESGC) filed a Form 12b-25 with the SEC regarding an extension of the filing deadline for the Company’s Annual Report on Form 20-F for fiscal 2021. The Form 12b-25 filing automatically grants the Company a 15-day extension to file its Annual Report on or before August 17, 2021.
Debt restructuring
The Company also provided an update on its debt restructuring. The Company is considering its options under various debt arrangements, including the £50 million 6.50% UK retail bond that matures on October 15, 2021, and the requirements to deliver audited financial statements by July 31, 2021.
ESGC partnership with Xfinite
On June 2, 2021, Xfinite and Eros Now, which is owned by global entertainment company Eros STX Global Corporation (NYSE: ESGC), extended their partnership with Xfinite’s Mzaalo platform. The partnership further establishes Eros Now’s footprint in advertising video-on-demand (AVOD). This partnership also adds to the 25 premium linear TV feeds and VOD platforms and plans to expand further to reach 200 content partners.
Conclusion
As of this writing, we are unable to find any negative development that could justify its decline in the after-hours on Thursday, so we hope that it can end the weekly trading with a positive note on Friday.
About the company
Eros STX Global Corporation is a global entertainment company that acquires, co-produces, and distributes films, digital content & music across multiple formats such as theatrical, television, and OTT digital media streaming to consumers around the world.
