Marco Bassetti named chief exec of sprawling production giant with combined revenues of almost £4bn
Banijay Entertainment and All3Media have agreed a deal to merge their operations, with Marco Bassetti set to be installed as chief exec.
All3’s chief exec, Jane Turton, is to become deputy chief exec at the combined company, which will be jointly owned by Banijay Group and RedBird IMI as a 50/50 venture. RedBird IMI’s chief exec, Jeff Zucker, will be chairman.
The combined entity will be the world’s largest production group outside of the US and would have generated more than €4.4bn ($3.83bn) in revenue and €690m in adjusted EBITDA on a 2024 pro forma basis.
Its footprint will encompass more than 170 creative labels across 25 countries, operating in all major English-language geographies with around 20,000 hours produced annually.
It will house IP ranging from The Traitors, Big Brother, Survivor, Peaky Blinders and Gogglebox, to House of Guinness, The Assassin and Oscar-nominated Hamnet, alongside theatre productions such as The Lehman Trilogy.
The combined company, which will be called Banijay, will have its earnings consolidated within Banijay Group, whose revenues will now hit north of €7.4bn and earnings in excess of €1.5bn.
RedBird IMI will roll over its All3Media stake - totaling €796m - into Banijay Group, including a payment of €625m to Banijay Group by RedBird IMI and a €171m pre-closing dividend paid by Banijay Entertainment to Banijay Group.
Scale, IP ownership and ‘synergies’
Merger talks first started late last year, with Banijay confirming in January that talks were underway, while reports earlier today suggested that a deal was imminent.
The companies, which had looked to combine in 2023 prior to All3’s acquisition by RedBird IMI, said the enlarged entity would create a group “with enhanced scale, IP ownership and exposure to high-growth segments”, including live events and digital.
They added that around €50m of cost synergies are expected to be realised within 12 months of the deal closing, which is expected to be in the autumn.
RedBird IMI’s Zucker said: “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.
“With this combination of Banijay Entertainment and All3Media, we have realised that goal, and are thrilled to partner with the entire Banijay team.”
Bassetti added: “Since its inception, Banijay has been driven by entrepreneurialism, ambition, and creativity. In the next phase of our journey, this DNA remains integral to our commitment to building a media and entertainment company that can stand its own, and the test of time, on the global stage.
“One that can attract and retain the best talent, one that has the means to truly invest in ideation and building the franchises and live events of tomorrow, and one that can lead the way on adopting new technologies, new platforms and new routes to audiences - a truly diversified media and entertainment powerhouse.”
Turton said: “All3Media has grown from a start-up in 2003 to a globally successful creative business. First and foremost, we are a group where creative and commercial excellence go hand in hand.
“We celebrate talent and believe in collaboration, ambition and innovation in creating and producing both stunning programmes and delivering impressive financial returns. I am looking forward to working with Marco as All3Media and Banijay embark on this next exciting phase.”
Stéphane Courbit, president of Banijay owner LOV Group Invest, added: “We are delighted to continue to lead the consolidation of the independent content production industry with the combination of Banijay Entertainment and All3Media, creating an even stronger powerhouse. I am also especially pleased to build a partnership with RedBird IMI, with whom we share the same vision for the industry.”
François Riahi, chief exec of Banijay Group, said the deal represented “a decisive step” in his company’s bid to “reinforce its leading position in global entertainment.”
He added that the two companies were “highly complementary platforms with exceptional creative assets and global ambition”.
Riahi, who also oversees Banijay Group companies such as BetClic, continued: “In all our businesses, we are leading consolidation, and this transaction is another demonstration of this in content production, just as the acquisition of Tipico announced recently in sports betting and online gaming.”
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