PCCW has made a strategic investment in US-based STX Entertainment, a Hollywood film studio and distributor backed by Hony Capital and TPG's growth unit, says a company announcement.
In a regulatory filing, PCCW said that it has acquired an equity interest in STX Entertainment to bring more premium content to views in Hong Kong, South East Asia and India.
STX specializes in the development, production, marketing and distribution of talent-driven films, television, and digital media content, with an ability to maximize the impact of content across worldwide, multiplatform distribution channels.
In connection with the investment, PCCW has signed an overseas content distribution agreement with STX Entertainment to bring original and first-run Hollywood content, including recent US hit “Bad Moms” starring Mila Kunis.
They will also co-produce regionally tailored programs for PCCW to distribute across its pay-TV and OTT services in Hong Kong, Southeast Asia and India, further strengthening its content offerings of its OTT and pay-TV businesses.
“The new alliance represents an important milestone in expanding PCCW’s strategic investments into compelling content creation, not only for audience in Hong Kong but also for international audiences in markets which we operate,” said Janice Lee, managing director of PCCW Media Group.
“Furthermore, STX’s wide release of films and scripted television series can also be distributed across PCCW’s pay-TV and OTT platforms, thus bringing the best content to viewers in Hong Kong and in the region,” said Lee.