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SOURCE Relativity Media
BEVERLY HILLS, Calif. and PARIS, Feb. 21, 2014 /PRNewswire/ -- Relativity Media ("Relativity") and EuropaCorp announced today the companies have formed a new U.S. distribution and marketing joint venture to support both Relativity's and EuropaCorp's U.S. distribution for their respective film slates.
Under the terms of the deal, EuropaCorp will pay approximately $130 million, anticipated to be paid over a six year timeframe, for a 50 percent stake in the joint venture. Relativity will own the other 50 percent. Each company will exclusively use the services of the joint venture and will directly distribute its own films. Building upon the success of Relativity and EuropaCorp's previous co-production partnership, each company will also have the opportunity to co-produce and co-finance each other's future films under the new agreement. The joint venture will be overseen by Tucker Tooley, President of Relativity, and Christophe Lambert, CEO of EuropaCorp.
Ryan Kavanaugh, CEO of Relativity, said: "We are excited to expand our successful relationship with EuropaCorp through the formation of this joint venture. In partnership with EuropaCorp, we will be able to more fully utilize the strength of our distribution and marketing abilities, even as we continue to expand our own film production. Together we share a vision focused on producing enthralling content in a profitable fashion."
Christophe Lambert, CEO of EuropaCorp, said: "We are delighted to create this joint venture with Relativity, having already experienced the team's expertise and deep knowledge of the U.S. market. This strategic partnership is a major step forward for EuropaCorp that allows us to fully control our distribution in the U.S. and maximize the visibility for our films."
In 2010 Relativity acquired Overture Films' distribution network and operations, upon the assumption of liabilities, when Starz LLC ceased motion picture distribution. Relativity subsequently built the operation into a world-class platform capable of distributing a wide-range of films including Relativity's slate of 8-13 moderately budgeted movies per year. The joint venture will have no impact on Relativity's other business entities.
The two companies' previous relationship led to the co-production and co-financing of Luc Besson's comedic action film The Family and 3 Days to Kill, and the upcoming film Brick Mansions, which Relativity is distributing in 2014. These films join Relativity's own diverse portfolio of movies slated for worldwide release in the coming year, including Earth to Echo, Oculus, Jane Got a Gun, the currently titled Blackbird, and acclaimed author Nicholas Sparks' The Best of Me – his third film with Relativity.
Relativity is a next-generation studio engaged in multiple aspects of entertainment, including film production; financing and distribution; television; sports management; music publishing; and digital media.
The studio has produced, distributed or structured financing for nearly 200 motion pictures, generating more than $17 billion in worldwide box office revenue and earning 60 Oscar® nominations. Recent films include: 3 Days to Kill, Safe Haven, Act of Valor and Immortals, the latter two opening number one at the box office in their debut. Relativity's other films include the eight-time Oscar® nominee The Social Network as well as Limitless and two-time Oscar® winner The Fighter. Upcoming films include Earth to Echo, Oculus, and Nicholas Sparks' The Best of Me.
Relativity Sports is the industry's fastest growing sports agency, providing more than 300 NBA, NFL and MLB athletes with services ranging from contract negotiation to custom film and television content production. Relativity Television is one of the country's largest suppliers of unscripted television and has recently expanded to produce scripted series.
For more information, please visit www.relativitymedia.com.
EuropaCorp is among the top tier of European film studios. Founded in 1999, EuropaCorp's different activities include production, distribution for cinemas, home entertainment, video on-demand services, sales of TV rights for France; and following the recent opening of its first new multiplex at Roissy's 'Aeroville', the group now counts a 'Europacorp Cinemas' branch.
The group is also present in the sale of rights internationally, as well as the production and distribution of original soundtracks. Since 2010, the group has also been producing television fiction. EuropaCorp's integrated financial model generates revenues from a wide range of sources. With films from a wide range of genres and a strong presence in the international market, the group has produced some of the latest French worldwide record-breaking successes. EuropaCorp's catalogue includes 500 films and the company employs 150 permanent staff members. For more information go to www.europacorp-corporate.com
EuropaCorp was founded by French director, screenwriter and producer Luc Besson. He has made his mark as one of the only French directors and producers on the international stage. Director of such successes as: The Last Battle, Subway, The Big Blue, Nikita, Leon: The Professional and The Fifth Element; for which he received the Cesar Award for Best Director in 1998, Besson was equally entrusted with the presidency of the jury for the 53rd Cannes Festival in 2000, the youngest president in the festival's history.
Aside from the films he has directed, Luc Besson has written over twenty feature-length screenplays, for which he has also been producer. Of recent note is the 'Taxi' series, and 'Taken', which currently holds the record for the biggest commercial success of a French film in the United States. In 2011, Luc Besson directed The Lady, which brought to life the extraordinary life and destiny of Aung San Suu Kyi, the Nobel Peace Prize Winner in 1991.
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