#Shut in release date europacorp movie#

Shmuger, who took the reins at EuropaCorp in 2016, acknowledged that a “course correction” was needed. The two companies co-owned a distribution and marketing joint venture that EuropaCorp had to pay to run while Relativity struggled to find cash. In February, EuropaCorp warned investors that losses will reach a record high this fiscal year, topping the $44 million loss it posted in 2010. Compounding issues, the company became entangled in the bankruptcy woes of Relativity Media, the high-flying indie studio that filed for Chapter 11 in 2015 only to emerge from protection to another round of flops.

Those flops join a list of misfires that include “Nine Lives” and “Miss Sloane.” “They were making films that felt like they should have come out 20 years ago,” said Jeff Bock, a senior box office analyst with Exhibitor Relations. The same fate befell “Shut In,” a psychological thriller with Naomi Watts that also reshot its ending only to bomb with a $6.9 million domestic gross and withering notices. “Valerian and the City of a Thousand Planets” bows July 21. When “The Circle” debuted in April, reviews were brutal, and audiences handed it a D+ CinemaScore. However, scores for the film failed to improve. They were particularly concerned that her reaction to the death of a central character came off as too wooden. EuropaCorp executives and Ponsoldt spent six months differing on what needed to be reshot, ultimately deciding to film new material in January that would humanize Watson’s character.

Director James Ponsoldt and the studio had “mutual cut,” meaning both had to sign off on the final product before its release. But instead of snapping the losing streak, the thriller became the latest casualty, grossing an anemic $17 million. “Luc in the past 20 years, if you look back at his accomplishments, has had a unique record of generating homegrown franchises.”īesson and EuropaCorp executives had hoped that the combined star power of Tom Hanks and Emma Watson would turn their spring release “The Circle” into a hit. “Don’t confuse a big bet with a big risk,” said Marc Shmuger, EuropaCorp’s CEO and former chairman of Universal Pictures. If it falters, it could torpedo the company’s share price. If it works, it will re-establish EuropaCorp while launching a sorely needed new film franchise to rank alongside Besson’s “Taken” and “Transporter” series. With “Valerian,” he’s putting his reputation and that of his company on the line to bring a passion project to the big screen. That command of the camera rarely wavered, with Besson routinely beating the odds to turn the likes of “The Fifth Element” and “Lucy” into global hits. 1985’s “Subway” announced him as a director with a bold visual sense and an ability to orchestrate balletic action sequences. EuropaCorp declined to comment on a possible sale.īesson has been one of the most successful international filmmakers. There have been rumors that the company is being shopped, with Mediawan, Altice and Vivendi among those sniffing around as potential buyers. Rival studios and insiders estimate the film must make at least $400 million worldwide to climb into the black and justify a sequel.Īs the flops have mounted, EuropaCorp’s stock price, once at €17 ($18.50), has been languishing at roughly $3.25 in recent months.

#Shut in release date europacorp movie#

“Valerian” cost $180 million to produce, making it the most expensive independently financed movie in history - and that’s before counting its global marketing and distribution costs of at least $100 million. The setbacks come as the company is preparing to release “Valerian,” the story of two space agents battling a dark force in the far reaches of the galaxy.