BREAKING: In a deal worth $130 million, EuropaCorp has bought its way into a joint venture with Relativity that will give it access and better control of the domestic distribution of its films. This comes after Luc Besson and Christophe Lambert’s France-based company waged a long courtship for Millennium Entertainment to serve that function. Lambert told Deadline that pursuit ended two months ago, and instead the accord was reached with Relativity, which released EuropaCorp’s black comedy The Family and this week distributes the Kevin Costner action film Three Days To Kill, with Brick Mansions coming later this year.
Under terms of the deal, EuropaCorp will pay $130 million over six years for a half share in the distribution venture that Relativity has had since it bought Overture and built it into the Relativity releasing arm. Both companies will use the distribution apparatus for its own films, and EuropaCorp will put up its own P&A as it uses Relativity’s marketing operation. The anticipation is that the relationship will build to where the companies will work together to coproduce and cofinance projects together, and that Relativity will tap EuropaCorp’s releasing resources abroad. (more…)