Banijay and All3Media merge to form $6.65 billion production powerhouse

Banijay and All3Media struck a merger agreement that will create a single company called Banijay, jointly owned 50/50 by Banijay Group and RedBird IMI, the firms said. The combined entity will have around $6.65 billion in revenues based on 2024 figures, an enterprise value reported at $8 billion and is expected to close by the fall. Marco Bassetti is set to lead the new group as CEO, with All3Media CEO Jane Turton as deputy CEO and Jeff Zucker of RedBird IMI becoming chairman of the board.

Company materials show the merged business would have generated adjusted EBITDA of €690 million in 2024 and expects cost synergies of €50 million, roughly $58 million at current exchange rates. The transaction follows RedBird IMI’s May 2024 purchase of All3Media for £1.15 billion and comes six years after Banijay’s acquisition of Endemol Shine, underscoring an aggressive consolidation strategy among independent producers.

The combined slate spans major global formats and high-profile scripted titles that reach mainstream audiences. Banijay brings labels including Kudos, Tiger Aspect and Shine TV and formats such as Big Brother, MasterChef, Peaky Blinders, Survivor and Black Mirror. All3Media contributes more than 40 labels including Studio Lambert, Lion Television, Objective Media Group and Silverback Films and credits ranging from The Traitors and Squid Game: The Challenge to Race Across the World, The Tourist and the film 1917. Together the companies control more than 170 production companies and labels, extending reach across 25 territories and major markets including the U.K., the U.S. and Germany.

The transaction was framed by Banijay Group leadership as a deliberate push for scale. “This transaction represents a decisive step in Banijay Group’s strategy to reinforce its leading position in global entertainment,” François Riahi, CEO of Banijay Group, said. “Banijay Entertainment and All3Media are highly complementary platforms with exceptional creative assets and global ambition. 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.”

For viewers and the broader media ecosystem, the deal concentrates ownership of formats and production capacity in a single commercial force, potentially shifting negotiation dynamics with broadcasters and streamers that license content worldwide. Executives cite scale and cost efficiencies as primary drivers; the companies say the move will allow the new Banijay to invest more heavily in global franchises and cross‑market format exploitation.

Several key details were not disclosed in the announcement, including the precise financial mechanics of the 50/50 ownership, whether regulators in major jurisdictions will require approvals, and any planned changes to midlevel management or production staffing. Analysts and competitors will watch how the new group integrates overlapping labels and whether the €50 million in projected synergies materializes without disrupting creative pipelines.

The merger sets up a consolidated super‑indie positioned to compete for the biggest commissions and global format deals. With the combined scale of $6.65 billion in revenue and an $8 billion enterprise value, the new Banijay could reshape what viewers see next season — and how much networks and streamers pay for it.