As it seeks to climb out of the red, Luc Besson’s EuropaCorp has sold its French TV production unit for 11 million euros ($13 million).
The business assets were acquired by Thomas Anargyros, who is the CEO of EuropaCorp Television. Anargyros has been heading EuropaCorp’s TV division since its launch in 2010, when his production banner, Cipango, was acquired by EuropaCorp. Anargyros had founded Cipango with Edouard de Vesinne, who became deputy CEO of EuropaCorp in 2016 and was ousted in September.
The sale of the French TV business fits into EuropaCorp’s scaled-back strategy to focus on fewer films and English-language series, as well as cut overhead. EuropaCorp said the sale will allow the company to reduce its overhead by about 2.5 million euros ($2.9 million) and 3 million euros ($3.5 million) per year.
A week ago, Marc Shmuger, who was hired on a renewable six-month contract in 2016, announced he would be stepping down as CEO of EuropaCorp at the end of...
The business assets were acquired by Thomas Anargyros, who is the CEO of EuropaCorp Television. Anargyros has been heading EuropaCorp’s TV division since its launch in 2010, when his production banner, Cipango, was acquired by EuropaCorp. Anargyros had founded Cipango with Edouard de Vesinne, who became deputy CEO of EuropaCorp in 2016 and was ousted in September.
The sale of the French TV business fits into EuropaCorp’s scaled-back strategy to focus on fewer films and English-language series, as well as cut overhead. EuropaCorp said the sale will allow the company to reduce its overhead by about 2.5 million euros ($2.9 million) and 3 million euros ($3.5 million) per year.
A week ago, Marc Shmuger, who was hired on a renewable six-month contract in 2016, announced he would be stepping down as CEO of EuropaCorp at the end of...
- 11/19/2017
- by Elsa Keslassy
- Variety - Film News
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