The huge deal struck by French production giant Banijay, the largest independent television producer (Peaky Blinders, Black mirror, Big brother, Master Chef, Survivor), and UK production powerhouse All3Media (Traitors, Squid game: Challenge, Race all over the world, The tourist, 1917) has just been revealed. But industry watchers are already wondering whether ITV Studios, the production arm of UK giant ITV, is next, given previous reports that Banijay was looking into a bid.
Successful ITV Studios franchises include the likes of Love IslandDisney+ series Competitors, SoundAnd Netflix Fool me once.
The Banijay-All3Media merger is valued at $8 billion and was revealed late Tuesday. Each company will own a 50 percent stake in the combined company. Banjay CEO Marco Bassetti will become CEO of the combined company. All3Media, owned by Jeff Zucker and Gerry Cardinale’s RedBird IMI, is led by CEO Gene Turton. Zucker will serve as Chairman of the Board of Directors of the combined company. The companies expect the deal to close in the fall.
The deal brings together a group of production companies. Banijay banners include the likes of Kudos, Tiger Aspect and Shine TV. All3Media’s production brands include the likes of Lion Television, Objective Media Group and Silverback Films. The two companies expect the cost of the deal to reach 50 million euros, or $58 million at the current currency exchange rate. The combined company would have achieved revenues of more than €4.4 billion and adjusted EBITDA of €690 million in 2024, the companies say.
RedBird IMI acquired All3Media in 2024 for $1.45 billion, and Francois Riahi, CEO of Banijay Group, Banijay’s parent company, shared in a conference call on Wednesday that his team was disappointed not to acquire this asset at the time, but ended up bringing it into the fold now after patience and about a year of talks.
However, analysts during the call wondered whether more deals could be made next, especially for ITV Studios, as French media reports suggested overnight. “Consolidation is the name of the game,” Riahi said, describing the All3Media deal as an example of a “transformational merger.” “The fact that we are strengthening our capabilities in English-speaking countries, especially the United Kingdom and the United States, naturally strengthens our position with global platforms,” such as Netflix, he stressed.
So, how about adding ITV Studios to the mix? “What I told the French press is that we are [excluding] “Nothing,” Riahi said, which also applies to ITV Studios and “every other studio. But I think clearly the point is that consolidation is the name of the game today.” When you look at the Warner-Paramount deal, it’s very easy to understand why you need to be big and global to be relevant in this sector. So we share this opinion with RedBird IMI.
He concluded: “Why is Warner appreciated? [at] a lot? Because in our industry, intellectual property, scale and global standing are very important. With the All3Media deal, “that’s what we’re enhancing.”
