The addition of Carmen Chang to the STX Entertainment board could strengthen the overseas reach for the innovative, venture capital-backed movie and TV company. Chang is a partner and managing director for Asia (excluding India) for New Enterprise Associates — better known as NEA — one of the largest venture capital firms.
Chang is helping NEA to build its portfolio in China and other Asian markets. Earlier she specialized in corporate and securities law, representing companies including Google, Apple, and Facebook in China.
STX chief Robert Simonds says that her background in corporate governance, mergers, acquisitions, and complex financial transactions “will be an enormous benefit to our board as we continue to grow our media company.”
Chang also praised the year-old studio for “quickly establishing itself as one of the most unique and dynamic media businesses in the worldwide entertainment landscape.” She says that she’s “extraordinarily impressed with their business plan, strategy and vision for the future” and hopes to help it become “one of the pre-eminent and diverse media brands in entertainment.”
Others on the STX board include TPG’s David Bonderman and Bill McGlashan, Hony Capital’s John Zhao and Tracy Cui, longtime media exec Frank Biondi, former Fox Networks Group chief Tony Vinciquerra, and OddLot Entertainment’s Gigi Pritzker.
STX recently released its first film, The Gift. Upcoming productions include Secret In Their Eyes, The Boy, and The Free State Of Jones. In April it struck a multi-year deal for Comcast’s Universal Pictures Home Entertainment to market, sell, and distribute discs, electronic sell-through, and VOD.
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