“More scale, more IP, more growth.” And more exposure to the creator economy and “true creative firepower.” That’s how François Riahi, the CEO of Banijay Group, the parent company of French production giant Banijay, the largest independent TV producer (Peaky Blinders, Black Mirror, Big Brother, MasterChef, Survivor), on Wednesday explained the rationale for the producer’s planned merger with U.K. production powerhouse All3Media (The Traitors, Squid Game: The Challenge, Race Across the World, The Tourist, 1917).
The deal with an enterprise value of $8 billion, unveiled late Tuesday Europe time and set to create a production industry juggernaut, will also boost Banijay’s exposure to English-language content, CFO Sophie Kurinckx-Leclerc highlighted during a conference call, along with touting the opportunity for cost synergies.
Each company will own a 50 percent stake in the combined firm. Banijay CEO Marco Bassetti will become the CEO of the merged firm. All3Media, owned by the Jeff Zucker and Gerry Cardinale-led venture firm RedBird IMI, is led by CEO Jane Turton. Zucker will serve as chairman of the board of the merged company. The companies expect the deal to close in the fall.
The deal brings together a range of production firms. Banijay’s banners include the likes of Kudos, Tiger Aspect and Shine TV. All3Media’s production brands include the likes of Lion Television, Objective Media Group, and Silverback Films.
The companies expect cost synergies from the deal to amount to €50 million, or $58 million in today’s currency exchange rate. The firms say that the combined firm would have generated revenues exceeding €4.4 billion and adjusted EBITDA of €690 million in 2024.
RedBird IMI had acquired All3Media in 2024 for $1.45 billion.
Could more deals be next? “Consolidation is the name of the game,” François Riahi said on Wednesday’s call, describing the just-unveiled All3Media deal as “complementary” and an example of “transformative consolidation.”
