Fiction
Bodhi Tree Multimedia posts strong December quarter, buys Moving Image Studios
Content producer posts higher income for December quarter and expands with new investments.
MUMBAI: Bodhi Tree Multimedia, the Mumbai-based production powerhouse, known for its television and internet content, has released a set of unaudited financial results that show a company firmly rooted in growth while simultaneously branching out into fresh territory. Managing director Mautik Tolia oversaw the approval of the figures for the quarter and nine months ending 31 December 2025, revealing a group that is far from static.
For the three months ending 31 December 2025, the consolidated revenue from operations reached a healthy Rs 3,901.52 lakhs (note: all figures in lakhs unless stated). When adding other income of Rs 55.73 lakhs, the total income for the quarter stood at Rs 3,957.25 lakhs. This represents a significant climb from the Rs 1,764.20 lakhs recorded in the same quarter the previous year.
The nine-month period ending in December 2025 told an even more expansive story, with total consolidated income hitting Rs 8,238.70 lakhs. This is a massive leap from the Rs 5,047.62 lakhs seen in the corresponding period of 2024. On a standalone basis, the company’s revenue for the quarter was Rs 1,069.22 lakhs, with a total income of Rs 1,144.51 lakhs.
Of course, growing a media empire requires significant nourishment. The consolidated total expenses for the quarter were Rs 3,634.57 lakhs, largely driven by production costs of Rs 3,298.26 lakhs. After accounting for taxes and other adjustments, the consolidated net profit for the period was Rs 234.52 lakhs.
The earnings per share (EPS) for the quarter stood at Rs 0.13 (basic and diluted), while the nine-month EPS rose to Rs 0.33. On the standalone front, net profit for the quarter was Rs 61.76 lakhs, contributing to a nine-month standalone profit of Rs 267.75 lakhs.
The board didn’t just spend their time crunching numbers; they were busy expanding the family tree. The company has officially approved the acquisition of a controlling stake in Moving Image Studios Private Limited (MISPL). This new subsidiary is already being consolidated into the group’s financial results, though the final fair value determination is still being finalised.
Furthermore, Bodhi Tree has taken a 20 per cent equity stake in Lehren Networks Private Limited (LNPL). This move classifies Lehren as an associate company, allowing Bodhi Tree to exert “significant influence” over the network. The group now oversees a wide variety of subsidiaries, including Vasudhara Media Ventures, Dharmaveer Media City, and Mad Lab Alpha.
The company also addressed several administrative and regulatory matters during the meeting. They confirmed that there have been no deviations or variations in the use of proceeds raised from their rights issue. Regarding the new Labour Codes notified by the Indian Government in November 2025, the company stated it does not currently meet the applicability thresholds, meaning no financial impact was recorded this quarter.
With a busy production schedule and a growing list of subsidiaries, Bodhi Tree Multimedia seems well-positioned to continue its upward climb in the media landscape.
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.
