Luc Besson has a film company named EuropaCorp which released visually rich and imaginative scifi film, Valerian. It was one of the most expensive independent films, but did not perform as expected. It did well, but it was not up to the mark. We can say, it did not perform enough to justify huge amount of money spent on it. Since then, the prospects of EuropaCorp had remained unstable. Now, according to the reports of Slash Film, Netflix is taking into consideration to acquire the company. EuropaCorp was founded in 1996 by Besson. It became one of the biggest indie film studios of Europe. It has provided number of great films in the history of its 22 years. These great films include The Circle, Hitman, Lucy and Taken, and many more. EuropaCorp achieved great successes, but in recent years, the company had made huge debts and returned to French-language films reducing American operations. Basically, EuropaCorp produced French-language films and now it has returned to it.
Consequences attracted several buyers for the company
The company blamed weak performers and others for its loss of $83 million at the end of the year 2017. After few weeks, Variety reported that several buyers were ready and interested in buying the company while it was struggling with its debts. According to the reports, when a multi-picture deal was going on between Netflix and EuropaCorp in January, the talks regarding deal began. These talks are now converted into conversation for acquisition.
Netflix could attract more subs by acquiring the company
If the deal finalizes, Besson, who is the major share holder in the company he founded, would stay on becoming studio’s central creative entity. Deal is yet to be finalized, and if it gets finalized, we will certainly find some great entertainment and creative talent into Netflix’s streaming and services. We may come across a few more Taken movies. Acquiring the company could help Netflix in its race with Amazon, Apple, Hulu and Disney to produce its own content for attracting more subscribers.