The European maker of television shows ranging from Peaky Blinders to Big Brother is to merge with the UK super-indie behind hits including The Traitors to create a €4.4bn (£3.8bn) global TV production giant.
Paris-headquartered Banijay Group, which last year considered making a takeover offer for ITV’s studio operation, has struck a deal to merge with All3Media, which is owned by RedBird IMI.
The new entity will be the world’s largest independent TV maker, combining Banijay hits such as MasterChef, Survivor, Pointless, Hunted and Location, Location, Location with All3Media staples such as Midsomer Murders, Fleabag, Call the Midwife, Great British Menu and Race Across the World.
Banijay and RedBird IMI, which is in the process of selling the Telegraph titles to the owner of the Daily Mail, will be equal partners in the new merged group. However, Banijay will receive €796m in the deal to reflect that it is a larger business.
RedBird IMI, majority backed by the United Arab Emirates with Gerry Cardinale’s US-based Redbird Capital as junior partner, bought All3Media for £1.15bn in 2024.
The new company, which will be called Banijay, will generate revenues of €4.4bn and adjusted profits of €690m based on the business performance in 2024.
“This transaction represents a decisive step in Banijay Group’s strategy to reinforce its leading position in global entertainment,” said François Riahi, the chief executive of Banijay Group.
“We are leading consolidation and this transaction is another demonstration of this in content production.”
Marco Bassetti, the chief executive of Banijay Entertainment, will become chief executive of the new merged production company. Jane Turton, the chief executive of All3Media, will serve as deputy chief executive. Jeff Zucker, the former CNN boss who runs RedBird IMI, is to take the role of chair.
“When we formed RedBird IMI three years ago, we dreamed of creating a world-class, diversified entertainment company that reaches global audiences across scripted and unscripted programming, live events and digital,” said Zucker.
The merger of the two companies is expected to create €50m in cost synergies within a year of the deal closing. The earnings of the business will be consolidated into Banijay Group, which is listed on the Amsterdam stock exchange.
