Feb 16, 2024 - Business

Jeff Zucker's RedBird IMI to buy All3Media

Jeff Zucker attends CNN Heroes at American Museum of Natural History on December 08, 2019 in New York City.

Photo: Mike Coppola/Getty Images for WarnerMedia

Jeff Zucker's RedBird IMI has agreed to buy London-based film and TV producer All3Media for £1.15 billion, the firm announced Friday.

Why it matters: The deal continues Zucker's bet on the future of content production as Hollywood and the U.K. TV business cut costs.

What's happening: RedBird IMI is buying the producer from Warner Bros. Discovery and Liberty Global, which acquired All3Media in 2014 for £550 million.

  • Zucker will become the chair of the All3Media board. CEO Jane Turton and COO Sara Geater will continue to lead the company.
  • RedBird IMI beat out suitors including Banijay, ITV, Sony and Peter Chernin's The North Road Company.

Zoom in: All3Media is one of the largest content producers in the world, with more than 50 production and distribution companies in the U.K., Netherlands, Germany, New Zealand and the U.S.

  • Its companies are known for series including "Fleabag," "Undercover Boss" and "Squid Game: The Challenge."

Catch up quick: All3Media is the fifth investment for RedBird IMI.

  • In January, RedBird IMI made a minority investment in Hollywood studio Media Res. Last year, the joint venture invested in non-fiction studio EverWonder Studios, children's entertainment firm Hidden Pigeon and sports outlet Front Office Sports.
  • Zucker is currently attempting to take over the famed London newspaper The Daily Telegraph. That deal is under review by British regulators over concerns of foreign ownership by Middle Eastern backers.
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