Luc Besson’s EuropaCorp Posts $101M Loss As Features Struggle

STX Entertainment

EuropaCorp posted a loss of €89M ($101M) for the last six months.

Luc Besson’s company’s struggle comes after the disappointing performance of titles including Valerian and the City of a Thousand Planets.

The company posted revenues of €81.4M ($91M) in the six months ending September 30, compared to €140.2 ($158M) for the six months to the end of September 2017.

It also took a €9.8M loss on an unknown feature, which it said was greenlighted in 2016 but was not yet released. EuropaCorp denied it was related to Helen Mirren-fronted Anna.

It’s been a tough few months for Besson and his firm; last month The Fifth Element director was accused of sexual harassment by a further five women – taking the total number of women accusing him of inappropriate behavior to nine.

Earlier this month, EuropaCorp made a distribution deal with Pathé Films in France that will see the latter company release three films over a three-year period. The news comes as reports surfaced earlier this week that EuropaCorp was shuttering its domestic distribution business amid continued financial strain.

The Pathé deal begins with Guillaume Canet’s Nous finirons ensemble, a sequel to his 2010 pic Little White Lies that stars François Cluzet, Marion Cotillard and Gilles Lellouche.

Following the sale of its French TV production group, EuropaCorp is now focusing on the development and the production of English-language TV series including a remake of The Extraordinary Adventures of Adele Blanc Sec, based on the French graphic novel by Jacques Tardi; Gray, based on an original idea by novelist David Baldacci; and American Flagg!, based on the US graphic novel by Howard Chaykin.

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