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Luc Besson’s financially struggling EuropaCorp is putting another asset up for sale, entering into exclusive negotiations with Gaumont for the catalog of Roissy Films.
EuropaCorp acquired the 500-film strong catalog — which includes several award winners, such as Jean-Jacques Annaud’s Quest for Fire and Claude Zidi’s The Under-Gifted — a decade ago. French mini-major Gaumont and Besson’s EuropaCorp will engage in negotiations for the titles, though EuropaCorp said it would also explore selling around 30 unspecified films to a third party.
“This project would fall within the scope of the new strategy of the Group consisting in focusing on its core business activities: the production and distribution of films and series around the world,” the company said in a release.
The sale would also provide some much-needed cash for the company.
It will be the latest asset Besson’s beleaguered EuropaCorp is set to part with, after offloading its TV division for $13 million last November after the director’s sci-fi opus Valerian and the City of a Thousand Planets disappointed at the global box office.
EuropaCorp has posted significant losses since Valerian, with an $83 million loss in December, following a record $135 million loss for the 2016 financial year.
The director is also under investigation for rape stemming from two separate charges filed by actress Sand Van Roy in May.
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