STX Entertainment has crossed the Pacific for cash once again, as it secures a new round of financing that includes China’s Tencent, a source with knowledge of the transaction told TheWrap. Joining one of the largest internet and media companies in the world’s second-largest movie market is Hong Kong telecom and media company PCCW, which is also investing.
Producer Robert Simonds formed STX in 2014 with plans to produce eight to 10 medium-budget films a year, signing direct distribution agreements with America’s four largest cinema chains. The company’s founding investors also included U.S. private equity firm TPG and Chinese private equity firm Hony Capital, which invested $65 million in STX at the time and remains its third-largest shareholder.
And last March, STX signed a co-financing deal with China’s Huayi Bros. Media for at least 18 films that the studio said would allow it to up its annual quota to 12 to 15 films and spend upwards of $1 billion a year producing them.
Also Read: China's Huayi Bros. Close 3-Year Film Slate Deal with STX Entertainment
While “Bad Moms” has delivered $52.8 million in domestic box office receipts so far on a $20 million budget, STX has suffered one significant flop this year. Its Matthew McConaughey Civil War drama “Free State of Jones” has made only $20.8 million at U.S. theaters despite its estimated $50 million budget.
Hony’s investment in STX was the first by a Chinese company in a U.S. film studio, which was a harbinger of things to come in Hollywood. Studios from Lionsgate to Universal subsequently signed co-financing deals with Chinese media partners, and in January, Dalian Wanda Group became the first Chinese company to own a major American production company outright, when it bought “Jurassic World” producer Legendary Entertainment for $3.5 billion.
Tencent, which along with Wanda has shown interest in acquiring a minority stake in embattled Paramount Pictures, owns WeChat, China’s most popular mobile app, which is also a popular way to buy (discounted) movie tickets in the Middle Kingdom.
Also Read: What a 'Free State of Jones' Flop Means for Young STX
In April, STX launched an international division based in London as well as an unscripted TV division.
The Evolution of Mila Kunis, From 'That '70s Show' to 'Bad Moms' (Photos)
The actress has grown up since her days as a child star (and younger version of Angelina Jolie in "Gia")
At age 10, Ukraine-born Mila Kunis landed a small role in the 1995 short movie "Make a Wish, Molly" about a Russian Jewish girl newly arrived in the U.S.
Kunis also played small parts in mid-'90s TV shows like "Baywatch."
Also Read: Zac Efron’s ‘Baywatch’ Tumble Unleashes Wave of Memes (Photos)
She had a recurring role as Ashley in the WB family series "7th Heaven" in 1996-97.
Kunis played the 11-year-old version of Angelina Jolie's character in the acclaimed 1998 HBO movie "Gia," a biopic of '70s model Gia Carangi that won Jolie and Faye Dunaway Golden Globes.
At 14, she fibbed about her age and landed her breakout role as the spoiled rich girl Jackie Burkhart in the hit Fox sitcom "That '70s Show," opposite Ashton Kutcher as dim-witted Michael Kelso.
Fox
In 1999, Kunis replaced Lacey Chabert as the voice of awkward teenager Meg Griffin on Seth MacFarlane's animated sitcom "Family Guy."
Also Read: Seth MacFarlane on ‘Family Guy’ Movie: ‘It’s Just a Matter of When’
Fox
Mila Kunis tried to make a leap to the big screen opposite Kirsten Dunst in the 2001 high school rom-com "Get Over It."
In 2002, Kunis began dating former "Home Alone" star Macaulay Culkin (seen here at a 2005 benefit for victims of Hurricane Katrina and Hurricane Rita). The couple officially announced their split in 2011.
Also Read: Macaulay Culkin Slams Tabloids Over Heroin Addiction Reports
Getty Images
Kunis (seen here with her co-star and future husband Ashton Kutcher at a 2004 press event) stayed with "That '70s Show" for all eight seasons until it wrapped in 2006.
Fox
Kunis proved a romantic charmer as a Hawaiian resort worker who connects with Jason Segel's recently dumped hero in the 2008 rom-com "Forgetting Sarah Marshall."
In 2009, Kunis popped up at Spike's Guys Choice Awards to claim the award for "Hottest Mila" (besting Mila Jovovich for the honor).
Getty Images
In 2010, she tried her hand at action in the Denzel Washington postapocalyptic thriller "The Book of Eli."
Mila Kunis had a high-profile and widely acclaimed role opposite Natalie Portman as an ambitious ballet dancer in Darren Aronofsky's drama "Black Swan."
Kunis earned a Golden Globe nomination as Best Supporting Actress for her work on "Black Swan."
Getty Images
Kunis got frisky with Justin Timberlake in the 2011 R-rated comedy "Friends With Benefits."
Also Read: ‘Friends With Benefits': Standard Rom-Com but New Product Placements
Kunis re-teamed with "Family Guy" creator Seth MacFarlane in 2012 on his feature directorial debut, "Ted," playing the long-suffering girlfriend of Mark Wahlberg, a guy who's unduly influenced by his foul-mouthed teddy bear.
Also Read: ‘Ted’ Review: That’s One Funny, Filthy Talking Bear
For 2013's "Oz, the Great and Powerful," a prequel to one of the actress' favorite movies as a child, Kunis endured hours of makeup to play a younger version of Theodora, the Wicked Witch of the West.
Also Read: ‘Oz the Great and Powerful’ Review: Sam Raimi Manages to Fill Some Mighty Big Ruby Slippers
Kunis has won many fans for her looks and was named "Sexiest Woman in the World" by FHM in 2013.
FHM
She has also not been shy about showing off her body, as she did during the FHM photo shoot.
FHM
Kunis headed back into action territory in the 2015 sci-fi epic (and box office dud) "Jupiter Ascending" opposite an oddly blond Channing Tatum.
Also Read: ‘Jupiter Ascending’ Review: The Wachowskis Craft a Sci-Fi Saga That’s Breathlessly Exciting But Utterly Ridiculous
Mila married her former "That '70s Show" co-star Ashton Kutcher in July 2015, months after she gave birth to their daughter, Wyatt. (Here, they're seen promoting NBC's Red Nose Day charity telecast in May 2016.)
Instagram
In 2016, she re-teamed with her "Forgetting Sarah Marshall" co-star Kristen Bell -- as well as Kathryn Hahn -- in the R-rated suburban comedy "Bad Moms."
1 of 23
Actress has grown up since her days as a child star (and younger version of Angelina Jolie in “Gia”)
The actress has grown up since her days as a child star (and younger version of Angelina Jolie in "Gia")
View In Gallery
Related stories from TheWrap:
STX Entertainment Drops Barbra Streisand's 'Gypsy' Remake (Exclusive)
Adam Sandler Teams With STX on New Animated Feature
Cannes Sales: STX, Amazon, A24, Weinstein Company Lead in Pricey Deal-Making