All3Media merges with Banijay Entertainment
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All3Media, an independent TV production firm, has merged with Banijay Entertainment, a publicly traded French production company to create a European TV production behemoth worth $8 billion, the chair of the newly combined company Jeff Zucker told Axios in an interview Tuesday.
Why it matters: The combined company will be better positioned to continue to grow outside of Europe and particularly in the U.S., Zucker said.
- "This is a huge opportunity for this new company to play across all of the major global streaming platforms," he said.
- The new company will be jointly owned by Banijay Group and RedBird IMI, the joint venture between U.S. investment firm Redbird and Abu Dhabi-based investment firm IMI that's led by Zucker, the former president of CNN.
Zoom in: The new combined company, which will be called Banijay, produces 260,000 hours of content and 20,000 hours of programming a year.
- Banijay is behind huge global hits such as "Big Brother," "Survivor" and "Peaky Blinders." All3Media is known for hit series such as "The Traitors" and "The Assassin."
- While All3Media and Banijay are best known for their TV production businesses, both companies have footprints outside of TV.
- All3Media produces film, theatrical shows and digital content. Banijay has a sizable live events production business.
By the numbers: Banijay is expected to generate around €4.4 billion annually in revenue and around €690 million in profit, according to a pro forma analysis of the 2024 financials from each company.
What to watch: Zucker said the consolidated company has the opportunity to realize synergies across corporate functions and revenue. The team doesn't plan to focus any synergies on creative teams.
- "The thing that we're committed to is not cutting in any way the creative strength and the creative backbone of this new company," Zucker noted.
