Sharon Waxman On the Business of Entertainment
The founder and editor of TheWrap’s take on life on the left coast, high culture, low culture and the business of entertainment and media. Waxman writes frequently on the inside doings of Hollywood, and is is also the author of two books, Rebels on the Back Lot and Loot
Lionsgate will not be acquiring STX Entertainment, leaving the cash-strapped indie studio to close its deal with The Najafi Companies or find financing to cover its outstanding $150 million debt, TheWrap has learned.
Lionsgate submitted a best and final offer in recent days that was well under the $173 million offered late last year by The Najafi Companies, an individual close to the negotiations told TheWrap, adding that the bid was rejected by STX founder Robert Simonds and his top executives.