Luc Besson's EuropaCorp Set to Sell Roissy Films Catalog Following 'Valerian' Losses

Luc Besson - CinemaCon 2017 - Getty - H 2017
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The financially struggling studio has entered into negotiations to offload the catalog to Gaumont.

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.

It also announced layoffs earlier this summer, as well as the closing of Besson's film school.

The director is also under investigation for rape stemming from two separate charges filed by actress Sand Van Roy in May.