Banijay and Mediawan eye Lionsgate, reports claim

Banijay Group and Mediawan are among potential buyers for Lionsgate Studios, according to reports.

The US film and TV studio has been working with an investment bank to evaluate expressions of interest, Reuters reported, with the French companies among those considering a move. Lionsgate declined to comment.

Lionsgate Studios is valued at around $3.8bn and is behind franchises including The Hunger Games and John Wick, while its TV output has ranged from Mad Men to Yellowjackets.

The company completed its separation from pay TV operator Starz last year and has found recent success with Michael Jackson biopic Michael, which has just surpassed $1bn at the worldwide box office, becoming Lionsgate’s highest-grossing film ever.

Banijay is fresh from its recent merger with All3Media last week, meaning an acquisition with Lionsgate could take some time, while Variety reported that KKR-backed Mediawan is also interested, having been talking up its appetite for further expansion via M&A.

Bollore Group, holder of a controlling interest in pay TV giant Canal+, had been touted by Reuters as another interested party but reports suggest the company is not planning to bid.

Both Banijay and Mediawan already operate in the US – the latter acquired Peter Chernin’s US studio North Road Company in January – but the addition of Lionsgate would provide a considerable Stateside fillip to their operations.

Lionsgate has frequently been seen as an acquisition target amid the fast-consolidating US entertainment industry, following its decision to split from cable operator Starz last year.

The move has been positive for investors, with Lionsgate’s shares up more than 50% in the last six months alone. They rose a further 9% on the latest market chatter.

Netflix was linked with the company last month but publically dismissed reports of interest, while a potential merger with Dune and Godzilla firm Legendary Entertainment was also mooted.

Lionsgate employs around 1,400 people globally, with the company focused on production and distribution rather than streaming, following its move to ditch Lionsgate+ internationally four years ago.

The studio’s IP library runs to 20,000 hours and includes major movie franchises including The Hunger Games, John Wick and Twilight.

Banijay and Mediawan have been approached for comment.