France seems to be a big deal right now. As we reported yesterday, Prime Video is looking to extend their reach to France. With this, they signed on to acquire over 40 huge French-based content titles.
To make this happen, Prime Video inked deals with numerous big name production studios. One of those was Paris-based EuropaCorp. This is the company responsible for hits such as Lucy as well as the braintrust behind the Taken franchise. Now, just days later…Netflix is buying EuropaCorp?
There are rumblings that this deal is almost finalized and will be announced at the Cannes Film Festival, set to take place next month. With this announcement, shares in EuropaCorp stock rose more than 30 percent. This is huge news for a company that last $83.1 million the second half of last fiscal year.
Many saw their partnership with Amazon as a step toward a turnaround. However, Netflix buying them can change the game. However, does this also change Amazon’s game?
It is no secret that Amazon is looking to expand their global reach. These intentions became clear when Prime Video grew its presence in India. However, Netflix is looking to grow globally as well. The company has already spent over $8 billion this year in content and is looking to turn it out at a rapid pace. With the purchase of EuropaCorp, will Netflix rescind on their deal? After all, they know that story all too well when Netflix’s relationship with Disney soured last year. We will keep you updated as this story unfolds.