Fiction
Banijay to acquire Endemol Shine in $2.2 billion deal
MUMBAI: Now that’s what we call a mother of an acquisition. French production company Banijay Group – which is headed in Asia by Deepak Dhar – has announced that it will acquire the Walt Disney: Appollo Global Management-owned Endemol Shine Group at a sticker price of $2.2 billion.
A press release stated that the deal will encompass Endemol Shine’s 120 production labels with an estimated 66,000 hours of scripted and non-scripted programming together with over 4,300 registered formats. Upon completion of the acquisition, Banijay Group will own almost 200 production companies in 23 territories and the rights for close to 100,000 hours of content. The merged entity will have around 100,000 hours of content, making it the largest non-US production outfit. Total pro-forma revenue of the combined group is expected to be approximately $3.3 billion for the year ending 31 December 2019.
Parleys for a deal between the two have been going on for more than 18 months now. The asking price early on was a humungous $4 billion, which lead to other interested parties like talent agency Endeavor and ITV losing interest quickly.
The acquisition will be financed through a capital increase of Banijay Group and committed debt financing, which includes a committed full refinancing of Banijay and Endemol Shine’s existing financial debt, supported by Deutsche Bank, Natixis and Société Générale. Endemol Shine’s respective debt was approximately $486 million ($539.5 million) and $1.83 billion ($2 billion) as of December 2018. Postclosing, 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 (52 per cent), Banijay chairman Stéphane Courbit’s investment arm. LDH has the following other shareholders: the Italian Group De Agostini with 36 per cent of the capital, and Fimalac, the investment company of Marc Ladreit de Lacharrière, which will own 12 per cent of the capital through a reserved capital increase dedicated to the financing of the Endemol Shine acquisition. In addition to a direct investment in LDH, Fimalac will reinforce its long-term partnership with Financière LOV by increasing its stake in Financière LOV from 5.75 per cent to 8.4 per cent.
The press release stated that: “Boosting Banijay Group’s scripted credentials and further building its reputation as a go-to provider of high-quality unscripted IP, the combined catalogue is expected to include some of the world’s best known brands and formats such as Black Mirror, Versailles, The Millennium Trilogy, Peaky Blinders, Big Brother, MasterChef, Survivor, Temptation Island, Wife Swap and The Island. Furthermore, with a significantly broader brand portfolio, and larger creative platform, the combined group will be in an even stronger position to create, nurture and drive fresh IP for both linear broadcasters and new players.”
“Endemol Shine brings an incredible array of industry-leading talent, globally-renowned brands and high-quality creative content. Combining the resources of these two companies will instantly strengthen our position in the global market, and our capabilities across genres will further define us as a go-to provider of first class IP worldwide. Welcoming the Endemol Shine brands and talents to our existing business will signal enhanced opportunities in the marketplace, and we are all excited by what the future holds for the combined entity,” said Banijay CEO Marco Bassetti.
“At Endemol Shine, we have continually inspired and entertained audiences around the world, a testament to every single person across the Group. This deal takes us into a whole new and exciting chapter and into a new enhanced global content house with many opportunities ahead,” added Endemol Shine Group CEO Sophie Turner Laing.
The merger – when it is approved by the authorities – is likely to lead to a rationalisation of manpower at both the groups.
In India, Endemol Shine is amongst the top three production companies by revenue and is headed by CEO Abhishekh Rege. The overseas merger will probably result in him once again reporting to his former Endemol Shine India boss Deepak Dhar who has since gone on to set up Banijay Asia. The latter has been on an overdrive and in a very short span of time has emerged as amongst the top 10 producers in India. The Rajeash Kamat, Paul Aiello-headed Emerald Media group is one of the equity owners in Endemol Shine India.
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.
