EuropaCorp has committed around $130m to form a joint marketing and distribution venture with longtime partner Relativity that uses the latter’s infrastructure and gives it the ability to directly distribute in the US.
The entity will distribute the respective feature slates of Relativity and EuropaCorp in the US. EuropaCorp is buying a 50% stake in the venture and is expected to pay the $130m over six years.
The deal enables Relativity to grow its production ambitions, building on the parties’ existing co-production partnership and granting each company the opportunity to co-produce and co-finance each other’s future films.
Relativity president Tucker Tooley and Europacorp CEO Christophe Lambert will oversee the joint venture.
“We are excited to expand our successful relationship with EuropaCorp through the formation of this joint venture,” said Relativity CEO Ryan Kavanaugh
“In partnership with EuropaCorp, we will be able to more fully utilise 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.”
“We are delighted to create this joint venture with Relativity, having already experienced the team’s expertise and deep knowledge of the US market,” said Lambert.
“This strategic partnership is a major step forward for EuropaCorp that allows us to fully control our distribution in the US and maximise the visibility for our films.”
The partners co-financed and co-produced this weekend’s release 3 Days To Kill (pictured) starring Kevin Costner, as well as The Family and the upcoming Brick Mansions starring the late Paul Walker.