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France’s Luc Besson seeks cash as film studio stumbles

French filmmaker Luc Besson's production studio said on Friday that it was considering "different options" to raise cash and cut costs after sinking to record losses.

Published: 25 November 2017 09:55 CET

France's Luc Besson seeks cash as film studio stumbles

French filmmaker Luc Besson. Photo: Bertrand Guay/AFP

The announcement comes after the underwhelming box-office take for Besson's science-fiction spectacular “Valerian and the City of a Thousand Planets” last summer.

Although the film brought in more than $225 million, a poor performance in the huge US market left Besson's EuropaCorp struggling to make up for its $177 million it cost to produce — an astronomical sum for a French production.

Besson, who is working on a pilot for a proposed US police drama, took back direct control of the studio earlier this month, replacing CEO Marc Shmuger, a veteran of Sony Pictures.

EuropaCorp said it was examining a recapitalisation or a debt restructuring “given the cost of debt and maturity of its credit lines.”

It will also weigh cost cuts and the sale of assets in areas such as post-production or its film catalogue.

EuropaCorp said it would aim to produce two to three English-language feature films each year, and two French language films.

Besson, whose titles include the suave thrillers “Nikita” and “Leon: The Professional”, created the studio in 1999 and it long raked in profits from producing hits like “The Transporter” and “Taken”.

But the “Valerian” misfire hit the studio hard after a record loss of €120 million ($143 million) in its full year to March 31, 2017.

Last year the Chinese production house Fundamental Films invested €60 million in the studio, becoming its second-largest shareholder.

Cinema in France

Photo: Loic Venance/AFP

The cinema group Lost in Frenchlation runs regular screenings of French films in the capital, with English subtitles to help non-native speakers follow the action. The club kicks off every screening with drinks at the cinema’s bar one hour before the movie, so it’s also a fun way to meet people if you’re new to Paris.

These are the events they have coming up in November.

Friday, November 5th

Boîte Noire – What happened on board the Dubai-Paris flight before it crashed in the Alps? In this thriller Matthieu, a young and talented black box analyst played by Pierre Niney (star of Yves Saint-Laurent among other movies) is determined to solve the reason behind this deadly crash, no matter the costs.

The screening will take place at the Club de l’étoile cinema at 8pm. But you can arrive early for drinks at the bar from 7pm.

Tickets are €10 full price, €8 for students and all other concessions, and can be reserved here.

Sunday, November 14th

Tralala – In the mood for music? This new delightful French musical brings you into the life of Tralala (played by Mathieu Amalric), a 48 years old, homeless and worn-out street singer, who one day gets mistaken for someone else. Tralala sees an opportunity to get a better life by taking on a new personality. He now has a brother, nephews, ex-girlfriends, and maybe even a daughter. But where is the lie? Where is the truth? And who is he, deep down?

The night will start with drinks from 6pm followed by the screening at 7pm at the Luminor Hôtel de Ville cinema. There is also a two-hour cinema-themed walk where you’ll be taken on a “musicals movie tour” in the heart of Paris, which begins at 4pm.

Tickets cost €10, or €8 for students and concessions, and can be found here. Tickets for the walking tour cost €20 and must be reserved online here.

Thursday, November 18th

Illusions Perdues – Based on the great novel series by Honoré de Balzac between 1837 and 1843, this historical drama captures the writer Lucien’s life and dilemmas who dreams about a great career of writing and moves to the city to get a job at a newspaper. As a young poet entering the field of journalism, he is constantly challenged by his desire to write dramatic and eye-catching stories for the press. But are they all true?

The evening will kick off with drinks at L’Entrepôt cinema bar at 7pm, followed by the movie screening at 8pm. Tickets are available online here, and cost €8.50 full price; €7 for students and all other concessions.

Sunday, November 21st

Eiffel – Having just finished working on the Statue of Liberty, Gustave Eiffel (played by Romain Duris) is tasked with creating a spectacular monument for the 1889 Universal Exposition in Paris. It’s ultimately his love story with Adrienne Bourgès (Emma Mackey) that will inspire him to come up with the idea for the Eiffel Tower.

After a first screening last month, Lost in Frenchlation is organising a new one at the Luminor Hôtel de Ville cinema, with pre-screening drinks at the cinema bar.

Tickets cost €10, or €8 for students and concessions, and can be found here.

Thursday, November 25th

Les Héroïques – Michel is a former junkie and overgrown child who only dreams of motorbikes and of hanging out with his 17-year-old son Léo and his friends. But at 50 years old, he now has to handle the baby he just had with his ex, and try not to make the same mistakes he has done in the past.

The film will be followed by a Q&A with the director Maxime Roy who will discuss his very first feature.

Tickets cost €10, or €8 for students and concessions, and can be found here.

Full details of Lost in Frenchlation’s events can be found on their website or Facebook page. In France, a health pass is required in order to go to the cinema.

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