Fiction
Banijay completes landmark deal to acquire Endemol Shine Group
MUMBAI: Banijay today announced the completion of the acquisition of Endemol Shine Group, previously co-owned by The Walt Disney Company and funds managed by affiliates of Apollo Global Management Inc. The closed deal, which has been successfully approved by the relevant regulators worldwide in consultation with relevant employee representative bodies, sees the French-headquartered group scale up significantly to approximately 200 entities across 22 countries.
The deal makes Banijay the largest international content producer and distributor, ramping up its distribution division, Banijay Rights, and building a catalogue of over 88,000 hours of multi-genre premium entertainment brands. Cementing a collective of the world’s best creative entrepreneurs and an abundance of first-class and new and innovative IP, the business, which retains its name, will act as a go-to for clients across all territories and genres. Total pro-forma revenue of the combined group for 2019 reached approximately €2.7 billion.
As of today, Banijay represents a number of the world’s biggest brands and global formats including Survivor, Big Brother, Peaky Blinders, Temptation Island, MasterChef, Wallander, The Kardashians, Mr Bean, The Wall, Hunted, Black Mirror, Extreme Makeover: Home Edition and Deal or No Deal.
The combined group will be led by chief executive officer, Marco Bassetti, with Sophie Turner Laing stepping down from her role as chief executive officer of Endemol Shine Group. Turner Laing’s final day will be 10July.
Bassetti comments: “The close of this unique deal represents the joining of two businesses built on entrepreneurialism, creativity and people. Aligned in thinking, and approach, we now stand together as the world’s largest international content creation and distribution group. Expanding our catalogue and investment in high-quality, multi-genre IP, extending our footprint significantly, and welcoming a number of new world-class creatives, we hope to become a go-to for clients, and home for the best talent to create the most innovative and fresh scripted and non-scripted programming. With newfound scale and increased strength in the industry, we are excited by the path ahead. I’d like to finish by thanking Sophie for her ongoing support and hard work in such a challenging year.”
Turner Laing comments: “This deal bookmarks a creatively rich, commercially successful and relentlessly prolific five and a half years as Endemol Shine Group. It has been a real privilege and honour to lead such a talented and dynamic group of people, each of whom has played their part in, and should be proud of, our many collective successes over this time. As the start of an exciting new chapter in the company’s story, it is also the appropriate time for me to step down as CEO, and I wish Marco and his team the very best for the future.”
The acquisition has been financed through a capital increase of Banijay Group and debt financing, and was combined with a full refinancing of the financial debt of Banijay and Endemol Shine. Deutsche Bank, Natixis and Société Générale acted as global coordinators and joint bookrunners and BNP Paribas and Bank of America as joint bookrunners on the debt financing. Post- closing, the combined group will be held by LDH (67.1 per cent) and Vivendi (32.9 per cent).
LDH is a holding company controlled by Financière LOV (more than 52 per cent of the capital), Stéphane Courbit’s investment arm. LDH has the following other shareholders: the Italian Group De Agostini and Fimalac, the investment company of Marc Ladreit de Lacharrière. In addition to a direct investment in LDH, Fimalac has reinforced its long-term partnership with Financière LOV by increasing its stake in Financière LOV from 5.75 per cent to 8.4 per cent.
Rothschild and PJ Solomon (a Natixis affiliate) acted as financial advisors to Banijay Group. Société Générale acted as financial advisor to Financière LOV. Darrois Villey Maillot Brochier and Kirkland & Ellis LLP advised Banijay Group in connection with the transaction. Deutsche Bank, Natixis, Société Générale, BNP Paribas and Bank of America underwrote the financial debt and were advised by Latham & Watkins AARPI.
LionTree Advisors acted as financial advisor to Endemol Shine Group, including The Walt Disney Company and the Apollo funds, in connection with the transaction. Deutsche Bank acted as financial advisor to Endemol Shine Group in connection with the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP advised the Apollo funds and Endemol Shine Group in connection with the transaction. Cravath, Swaine & Moore LLP advised The Walt Disney Company in connection with the transaction. Hogan Lovells International LLP advised Endemol Shine Group in connection with the transaction.
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Fiction
Banijay merges with All3Media in $6.65 billion deal
Marco Bassetti will lead the combined company as CEO
PARIS: Six years after acquiring Endemol Shine at the height of the pandemic, Banijay has struck again. The European production heavyweight is merging with All3Media in a deal that will create a television titan with $6.65 billion in revenue and redraw the contours of a fast-consolidating market.
The combined company will trade under the Banijay name and be owned 50 per cent each by Banijay Group and RedBird IMI, which acquired All3Media in 2024. The transaction is expected to close by autumn, subject to regulatory approvals.
Banijay Entertainment CEO Marco Bassetti, will take the top job at the enlarged group. All3Media CEO Jane Turton becomes deputy CEO. RedBird IMI CEO Jeff Zucker will serve as chairman.
The logic is scale. Broadcasters are commissioning less, streamers are tightening budgets and global buyers are fewer but bigger. Against that backdrop, heft matters. The merged entity will generate roughly $6.65 billion in revenues based on 2024 figures, giving it sharper elbows in rights negotiations and deeper pockets for franchise-building.
“Entrepreneurialism, ambition and creativity” remain core to Banijay’s DNA, Bassetti said, flagging plans to invest more heavily in new intellectual property, live events and emerging platforms. Turton struck a similarly bullish note, pointing to All3Media’s journey from a 2003 start-up to a global supplier of hit formats and high-end drama.
Between them, the two groups control a formidable slate. Banijay’s catalogue spans MasterChef, Big Brother, Survivor, Black Mirror, Peaky Blinders and Deal or No Deal. All3Media’s labels include Studio Lambert, producer of The Traitors and Squid Game: The Challenge; Two Brothers, behind The Tourist; and Neal Street, currently producing the forthcoming Beatles biopics directed by Sam Mendes for Sony.
The back catalogue is equally muscular. Banijay Rights holds some 220,000 hours, while All3Media International adds around 35,000 hours, forming one of the industry’s largest libraries.
Banijay, controlled by French entrepreneur Stéphane Courbit and listed in Amsterdam, counts more than 130 production companies across 25 territories. All3Media operates over 40 labels, with strong positions in the UK, US and Germany. The enlarged group will also lean into live entertainment, building on Banijay’s Balich Wonder Studio, which produced the opening ceremony of the Milan-Cortina Winter Olympics, and the Independents.
The deal marks a shift in tone. As recently as October, Bassetti suggested that mergers and acquisitions were not a priority. But the drumbeat of consolidation has grown louder. Mediawan has moved for Peter Chernin’s North Road. David Ellison’s Paramount has agreed to a $110 billion takeover of Warner Bros, with plans to combine HBO Max and Paramount plus. ITV has explored selling its media and entertainment arm to Comcast-owned Sky, though talks have reportedly slowed.
