imported>BretBroussard26 at 17:57, 5 May 2026

2026-05-05T17:57:55Z

New page

{{short description|Indian mass media corporation}}
{{Use mdy dates|date=October 2021}}
{{Infobox company
| name = Eros Media World plc
| logo = Eros World Media logo 2022.jpg
| logo_size = 300px
| former_name = ErosSTX Global Corporation (2020-2022)
| type = [[Public company|Public]]
| traded_as = {{OTC Expert|EMWPF}}
| industry = [[Mass media|Media]] and [[entertainment]]
| predecessor = [[STX Entertainment]] [[Eros International plc]]
| founded = {{sda|2020}}
| hq_location_city = [[Mumbai]], [[Maharashtra]]
| hq_location_country = India
| area_served = Worldwide
| key_people = {{ubl|Rishika Lulla Singh (executive chairperson)|Pradeep Dwivedi (CEO)}}
| products = [[Film|Motion pictures]] [[Television]] [[Digital media|Digital]]
| services = Motion picture production and distribution Television production and distribution
| revenue = {{profit}} {{USD}} 270.1 million
| revenue_year = FY 2019
| operating_income = {{profit}} {{USD}} 63.9 million
| income_year = FY 2018
| net_income = {{profit}} {{USD}} 126.5 million
| net_income_year = FY 2018
| assets = {{profit}} {{USD}} 1.09 billion
| assets_year = FY 2019
| equity = {{profit}} {{USD}} 661.7 million
| equity_year = FY 2019
| num_employees = 340
| num_employees_year = 2020
| divisions = [[Eros International]] [[Eros Now]]
| website = {{URL|erosmediaworld.com}}
| footnotes = <ref name="businesswire2019">{{cite press release |title=Eros International Plc Reports Fourth Quarter and Fiscal Year End 2019 |url=https://www.businesswire.com/news/home/20190715005402/en/Eros-International-Plc-Reports-Fourth-Quarter-and-Fiscal-Year-End-2019-Results |publisher=Eros International |via=Business Wire |date=July 15, 2019 |access-date=December 11, 2020}}</ref><ref name="businesswire.com">{{Cite press release|url=https://www.businesswire.com/news/home/20180627005611/en/Eros-International-Plc-Reports-Strong-Revenue-and-Profit-Growth-in-FY-2018|title=Eros International Plc Reports Strong Revenue and Profit Growth in FY 2018|date=June 27, 2018|publisher=Eros International |via=Business Wire }}</ref><ref>{{Cite web|url=https://www.macroaxis.com/invest/ratio/EROS--Number-of-Employees|title=How strong is Eros International Number of Employees?|website=Macroaxis}}</ref><ref>{{cite web | title=Eros STX Global Corp - Company Profile and News | publisher=Bloomberg L.P. | url=https://www.bloomberg.com/profile/company/ESGC:US | access-date=October 17, 2020}}</ref>
}}
'''Eros Media World plc'''<ref name=emw>{{cite web|title=Renamed Eros Media World To Retain 15% Stake in STX, Projects Revenue Growth, Reduced Debt|website=[[Variety (magazine)|Variety]]|first=Naman|last=Ramachandran|date=25 April 2022|access-date=10 June 2022|url=https://variety.com/2022/film/asia/eros-media-world-stx-revenue-debt-1235240177/}}</ref> (formerly '''ErosSTX Global Corporation'''<ref>{{Cite press release|date=September 11, 2020|title=Eros International Plc Announces Corporate Name Change to ErosSTX Global Corporation|url=https://www.businesswire.com/news/home/20200911005258/en/Eros-International-Plc-Announces-Corporate-Name-Change-to-Eros-STX-Global-Corporation|access-date=September 23, 2020|publisher=ErosSTX International |via=Business Wire|language=en}}</ref>) is an Indian [[media company]] that acquires, produces, and distributes films, television shows, and digital content.<ref>{{cite web | url=https://deadline.com/2022/04/stx-entertainment-eros-najafi-1235008181/ | title=STX to Remain Independent Studio as Deal Closes with Najafi Companies & Eros Divorce Final | date=April 22, 2022 }}</ref> The company is led by executive chairperson Rishika Lulla Singh.

==History==
[[Eros International plc]] was founded by Arjan Lulla and [[Kishore Lulla]] in 1977 as an Indian film and television production and distribution company.<ref name="dead">{{Cite web |last=Hayes |first=Dade |date=July 30, 2020 |title=Eros And STX Close Merger, Plan New York Stock Exchange Debut In September, Eye $1B In Revenue By 2022 |url=https://deadline.com/2020/07/eros-stx-close-merger-set-plans-for-september-new-york-stock-exchange-debut-1202999640/ |access-date=July 30, 2020 |website=Deadline |language=en}}</ref> The company launched its ErosNow OTT service in 2012, which by 2020 had 36.2 million paid subscribers,<ref>{{Cite press release|url=https://www.businesswire.com/news/home/20201118005177/en/Eros-Now-Reaches-36.2-million-Paying-Subscribers|title=Eros Now Reaches 36.2 million Paying Subscribers|date=November 18, 2020|publisher=ErosSTX International |via=Business Wire}}</ref> and the largest library of Indian content in the world.<ref name="hr">{{cite web |title=Eros India CEO Explains STX Merger Logic: "The Bigger Story Is on the OTT Side" |url=https://www.hollywoodreporter.com/news/eros-india-ceo-explains-stx-merger-logic-bigger-story-is-ott-side-1290850 |website=The Hollywood Reporter |date=April 22, 2020 |access-date=December 11, 2020}}</ref> Eros International plc became the first Indian media company to list on the [[Alternative Investment Market]] (AIM) of the London Stock Exchange. Subsequently, the company delisted from AIM in November 2013 to list on the [[New York Stock Exchange]].<ref>{{cite web|url=http://m.londonstockexchange.com/exchange/mobile/news/detail/11713113.html|title=Eros International Plc|publisher=London Stock Exchange|date=September 18, 2013|access-date=April 28, 2015}}</ref> Eros merged with STX Entertainment in an all-stock deal in April 2020 to become ErosSTX Global.<ref>{{Cite news |date=2020-04-18 |title=Eros International announces all-share merger with STX Entertainment |work=[[Business Standard]] |url=https://www.business-standard.com/article/companies/eros-international-announces-all-share-merger-with-stx-entertainment-120041800385_1.html |access-date=2023-09-03}}</ref> Sixteen months later, ErosSTX entered into negotiations to sell the STX business.<ref>{{Cite web |date=2021-11-16 |title=STX Entertainment Exploring Sale 16 Months After Eros International Merger |url=https://news.yahoo.com/stx-entertainment-exploring-sale-16-195911011.html |access-date=2023-09-03 |website=Yahoo News |language=en-US}}</ref>

On 7 December 2021, [[Jahm Najafi]]'s Najafi Companies announced that it had reached an agreement to acquire STX Entertainment from ErosSTX for US$173 million.<ref>{{Cite web|date=2021-12-07|title=STX Separating From Eros As Najafi Companies Enters $173M Agreement To Acquire Hollywood Studio|url=https://deadline.com/2021/12/stx-separating-from-eros-as-najafi-companies-takes-over-hollywood-studio-1234886141/|access-date=2021-12-07|website=Deadline|language=en-US}}</ref> [[Lionsgate Studios|Lionsgate]] also emerged as a potential suitor, but it was rejected on 10 March 2022, leaving Najafi as the only suitor left.<ref>{{Cite web|last=D'Alessandro|first=Anthony|date=2022-01-26|title=Lionsgate Looking To Acquire STX Entertainment|url=https://deadline.com/2022/01/lionsgate-stx-entertainment-acquisition-1234920259/|access-date=2022-01-26|website=Deadline|language=en-US}}</ref> The sale was closed in April 2022, effectively splitting STX from ErosSTX and making it an independent studio again.<ref>{{cite web|title=STX Remaining Independent Studio As Deal Closes With Najafi Companies & Eros Divorce Final|first=Anthony|last=D'Alessandro|date=22 April 2022|access-date=23 April 2022|url=https://deadline.com/2022/04/stx-entertainment-eros-najafi-1235008181/}}</ref>

Shortly after the sale of STX, ErosSTX announced their rebranding to Eros Media World plc, with some changes in management and reduced debt following STX's sale. Eros Media World would, however, retain a 15% stake in STX. Rishika Lulla Singh was named executive chairman, with Pradeep Dwivedi acting as the new CEO and Rajesh Chalke being stated as the new CFO of the company. The company will focus on its content library and film studio [[Eros International]], as well as [[Eros Now]] and [[Eros Music]].<ref name="emw" />

Eros did not file its Form 20-F annual report for the fiscal year ending March 31, 2021, as well as its Form 6-K semi-annual report for the period ending September 30, 2021, to the [[U.S. Securities and Exchange Commission|Securities and Exchange Commission (SEC)]] by the deadline of August 17, 2022. Consequently, Eros shares were delisted by [[New York Stock Exchange|NYSE]] Regulation, and trading of these shares was suspended. Eros publicly declared in January 2023 that it had chosen not to pursue an appeal against the delisting.<ref>{{Cite web |date=2023-01-09 |title=Eros Media World Plc Announces It Will Not Appeal NYSE Delisting |url=https://www.businesswire.com/news/home/20230109005730/en/Eros-Media-World-Plc-Announces-It-Will-Not-Appeal-NYSE-Delisting |access-date=2023-09-03 |website=www.businesswire.com |language=en}}</ref>

In 2014, Eros launched a £50 million bond in [[London]]. It was supposed to be repaid in April 2023, but in March 2023 the company offered to repurchase up to half their bonds at a price of 60p in the pound and delay repayment of the rest of the bonds until 2026.<ref>{{Cite web |title=Bollywood firm Eros' UK backers left in lurch |url=https://www.msn.com/en-gb/money/other/bollywood-firm-eros-uk-backers-left-in-lurch/ar-AA1eyZDg |website=[[msn]]}}</ref> After numerous bondholders agreed to the deal, Eros offered to purchase only £2m of bonds, and delay payment until March 2024. This announcement caused Eros bond prices to drop to 16p.{{citation needed|date=September 2023}}

In June 2023, in India, the [[Securities and Exchange Board of India]] (SEBI) barred Eros International Media and CEO Pradeep Kumar Dwivedi from the securities market until further notice for allegedly breaching trade practice regulations.<ref>{{Cite web |date=2023-06-22 |title=Sebi bars Eros Intl from market, CEO from holding Board positions until further orders over diversion of funds |url=https://www.businesstoday.in/latest/corporate/story/sebi-bars-eros-intl-from-market-ceo-from-holding-board-positions-until-further-orders-over-diversion-of-funds-386748-2023-06-22 |access-date=2023-09-03 |website=Business Today |language=en}}</ref> In July 2023, the Bank of India filed a claim against the UK arm of Eros in the London Circuit Commercial Court. As a result, the company put its UK business into insolvency.<ref>{{Cite web |title=EROS INTERNATIONAL LIMITED {{!}} Appointment of Administrators {{!}} The Gazette |url=https://www.thegazette.co.uk/notice/4284840 |access-date=2023-09-03 |website=www.thegazette.co.uk}}</ref> Meanwhile, ErosNow, the flagship digital property of Eros, began to experience intermittent outages.<ref>{{Cite news |date=2023-02-17 |title=Has Eros Now shut down? Users complain about the OTT platform lying non-operational for more than 10 days |work=The Times of India |url=https://timesofindia.indiatimes.com/entertainment/hindi/bollywood/news/has-eros-now-shut-down-users-complain-the-ott-platform-lying-non-operational-for-more-than-10-days/articleshow/98025365.cms?from=mdr |access-date=2023-09-03 |issn=0971-8257}}</ref>

==Management==
Rishika Lulla Singh serves as Eros Media World's executive chairperson and Pradeep Dwivedi as CEO.<ref name=Board>{{cite web |url= https://erosmediaworld.com/board-of-directors-eros/ |work= Eros Media World |title= Eros Media World PLC - Board of Directors |access-date= November 9, 2024}}</ref><ref name= ExeMng>{{cite web |url= https://erosmediaworld.com/management/ |title= Executive Management |work= Eros Media World |access-date= November 9, 2024}}</ref> The CFO, Rajesh Chalke, resigned November 20, 2023, and has not been replaced as of November 9, 2024.<ref name=Resign>{{cite web |url= https://erosmediaworld.com/wp-content/uploads/2023/11/SE_Resignation_Letter_CFO.pdf |title= Intimation of resignation of Chief Financial Officer (CFO) |work= Eros Media International |date= November 20, 2023 |access-date= November 9, 2024}}</ref>

Eros Media World's board of directors is composed of Kishore Lulla, Rishika Singh, Dhirendra Swarup, and Dilip Thakkar.
{| class="wikitable sortable"
|-
! Divisions name
! Country
! Founded
! Description
|-
| [[Eros Now]]
| India
| 2012
| Indian subscription-based [[Over-the-top media service|over-the-top]], [[video on demand]] entertainment and media platform
|}
{| class="wikitable sortable"
|-
! Subsidiaries name
! Country
! Founded
! Description
|-
| [[Eros International]]
| India
| 1977
| Indian film production and distribution company
|}

== Controversies ==

=== Inappropriate social media content related to Navratri ===
In October 2020, Eros Now and Arre was accused of posting "vulgar" content on social media regarding the holy Hindu festival of Navratri.<ref>{{Cite web |last=www.ETBrandEquity.com |title=Daily Morning Newsletter |url=https://brandequity.economictimes.indiatimes.com/newsletter?ag=TOP_PROMO_AS |access-date=2023-09-03 |website=ETBrandEquity.com |language=en}}</ref> They deleted the posts after receiving severe criticism.<ref>{{Cite news |date=2020-10-22 |title=Eros Now faces social media ire for sharing 'vulgar' memes on Navratri; company issues apology |work=[[The Tribune]] |url=https://www.tribuneindia.com/news/lifestyle/eros-now-faces-social-media-ire-for-sharing-vulgar-memes-on-navratri-company-issues-apology-159471 |access-date=2023-09-03}}</ref>

=== Undisclosed transactions ===
The short seller [[Hindenburg Research]] documented multiple undisclosed related-party transactions that appear to be designed to hide receivables and route them to Lulla family members.<ref>{{Cite web |date=2019-06-07 |title=Eros International: On-The-Ground Research, Employee Interviews, and Private Company Documents Expose Egregious Accounting Irregularities |url=https://hindenburgresearch.com/eros-international-on-the-ground-research-employee-interviews-and-private-company-documents-expose-egregious-accounting-irregularities/ |access-date=2023-09-03 |website=Hindenburg Research |language=en-US}}</ref> The SEBI investigation noted that a significant portion of Eros revenue from operations, trade receivables, and loans extended primarily involved transactions with related parties. These figures had witnessed a notable surge during the fiscal year 2019-20. The initial report indicated that, on the surface, these transactions suggested potential financial irregularities or the diversion of funds by the company.<ref>{{Cite web |last=www.ETLegalWorld.com |title=SEBI bars Eros International from market, CEO and MD restrained a director or a Key Managerial Personnel in any listed company - ET LegalWorld |url=https://legal.economictimes.indiatimes.com/news/litigation/sebi-bars-eros-international-from-market-ceo-and-md-restrained-a-director-or-a-key-managerial-personnel-in-any-listed-company/101198848 |access-date=2023-09-03 |website=ETLegalWorld.com |language=en}}</ref><ref>{{Cite web |date=2023-06-23 |title=Intimation under Regulation 30 of the SEBI |url=https://www.bseindia.com/xml-data/corpfiling/AttachLive/52c0551f-19bd-48f9-b038-003b9ede199e.pdf |access-date=2023-09-03}}</ref> SEBI also barred Eros Worldwide and Eros Digital - entities that own a stake in Eros International Media from dealing in the securities market.<ref>{{Cite web |last=Bureau |first=BL Mumbai |date=2023-06-22 |title=SEBI bars Eros |url=https://www.thehindubusinessline.com/markets/sebi-bars-eros/article66998022.ece |access-date=2023-09-03 |website=BusinessLine |language=en}}</ref> Additionally, SEBI directed the Bombay Stock Exchange to appoint a forensic auditor to examine the books of three exclusively BSE-listed companies - Thinkink Picturez, Mediaone Global Entertainment, and Spicy Entertainment & Media, who have acted as conduits in the alleged misrepresentation and diversion of funds by Eros.<ref>{{Cite news |last=Zachariah |first=Reena |date=2023-06-23 |title=Sebi bans Eros International, its promoter and CEO from securities markets |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/stocks/news/sebi-bans-eros-international-its-promoter-and-ceo-from-securities-markets/articleshow/101202989.cms |access-date=2023-09-03 |issn=0013-0389}}</ref>

==References==
{{reflist}}

==External links==
*{{official website|https://erosstx.com/}}

{{Authority control}}

[[Category:American companies established in 2020]]
[[Category:Indian companies established in 2020]]
[[Category:Mass media companies established in 2020]]
[[Category:Entertainment companies established in 2020]]
[[Category:Film distributors of India]]
[[Category:Film distributors of the United States]]
[[Category:Entertainment companies based in California]]
[[Category:Entertainment companies of India]]
[[Category:American brands]]
[[Category:Indian brands]]
[[Category:American film studios]]
[[Category:Indian film studios]]
[[Category:2020 establishments in Maharashtra]]
[[Category:STX Entertainment]]
[[Category: Companies formerly listed on the New York Stock Exchange]]
[[Category: Companies traded over-the-counter in the United States]]

Eros Media World - Revision history

imported>BretBroussard26 at 17:57, 5 May 2026