Pathé to become the sole owner of Gaumont and Pathé cinemas
by Fabien Lemercier
- Pathé will purchase the 34% share that Gaumont holds in their joint subsidiary, which encompasses 108 cinemas and 1,076 screens under the EuroPalaces brand
A new chapter is about to begin in the world of French exhibition. Founded in 2001 after the merging of the Gaumont and Pathé cinemas, under the EuroPalaces brand, the circuit will soon be entirely under the ownership of Pathé, which has presented a unilateral commitment to purchase Gaumont’s stake of 34%. This transfer will be concluded by May. Today, the circuit encompasses 108 cinemas and 1,076 screens in France, the Netherlands, Belgium and Switzerland.
This transaction, valued at €380 million, will give Gaumont greater means to support its current growth strategy in the world of audiovisual production, including in the United States, where the French group is already active in Los Angeles through three subsidiaries: Gaumont Television (with series such as Narcos and Hannibal), Gaumont Animation, and a Cinema division that was created last month (headed up by Johanna Byer, previously of Working Title), which is developing projects for US remakes of the Korean film Train to Busan and the French titles Dead Tired by Michel Blanc and Point Blank [+see also:
film profile] by Fred Cavayé, as well as a new film version of Barbarella (originally a comic book that was previously adapted for the silver screen by Roger Vadim in 1968, a feature starring Jane Fonda).
(Translated from French)