Michael Joe, a former executive at Universal, has joined STX Entertainment as Chief Operating Officer of the Motion Picture Group, rejoining Adam Fogelson, who is chairman of the group. The two worked together when Fogelson was Universal chairman and Joe was EVP at the studio.
“I had the privilege of working with Michael for many years when we were together at Universal,” said Fogelson in making the announcement. “There are very few people in this industry with his depth or breadth of experience or understanding of our business. He is a disciplined and forward-thinking leader whose financial acumen, business skills, and experience make him another extraordinary hire for our company and I am truly thrilled to be working with him again.” Joe will also be working with former Uni execs David Kosse, Kevin Grayson and Keri Moore.
Joe’s relationship with STX actually started two years ago when STX closed a financing deal with New York-based investment firm Seer Capital, where he oversaw media and entertainment investments. He had been with Seer since 2013 where he served as Managing Director responsible for sourcing and managing the firm’s media and entertainment activities.
Prior to that (in 2011), he was with New York-based hedge fund Elliott & Associates, where he also managed entertainment investments, including a multiyear co-financing deal with Universal. It’s no surprise then that a year earlier he was with Relativity Media as president of the company. Elliott & Associates was tightly wound with Relativity.
While at Relativity, Joe led the company’s efforts to become a domestic film distribution company, including negotiating the company’s long-term pay television arrangement with Netflix, acquiring Overture Films and negotiating a long-term home entertainment distribution arrangement with Fox.