Lions Gate Entertainment Corp. (NYSE:LGF.A) is in discussions to acquire some or all of Eros STX Global Corporation (NYSE:ESGC) (STX Entertainment), insiders familiar with the matter told Variety. It's an 11th hour wrinkle in the studio's planned sale to a private equity player.

Talks began late in 2021, according to sources, after STX had secured a buyer in The Najafi Companies, an investment firm run by Jahm Najafi, the Vice Chairman of the Phoenix Suns. In addition to Lionsgate, several other players are said to be bidding on STX though it's unclear which suitor is in the lead (or if any substantially exceed Najafi's offer). A Lionsgate spokesperson declined to comment on the matter.

An STX spokesperson had no comment. While Lionsgate has interest in the company, other sources familiar with the negotiations described Najafi as eager to ensure that it didn't lose out in its bid for control of the studio and “hesitant to get out of the way,” according to a knowledgable insider. STX is only days away from a February deadline to pay its creditors.