Banijay and All3Media to merge in €4.4bn deal creating global TV production giant

Merger backed by Banijay Group and RedBird IMI will create one of the world’s largest independent TV studios, bringing together major entertainment formats and scripted hits

The European maker of television shows including Peaky Blinders, Big Brother and Survivor is to merge with the British indie behind The Traitors and Gogglebox to create a €4.4bn global television production group, it emerged yesterday.

Paris-based Banijay Group has agreed a strategic partnership with RedBird IMI to combine Banijay Entertainment with All3Media, the UK production group owned by RedBird IMI — a joint venture backed by RedBird Capital Partners and the Abu Dhabi-based IMI media group.

The combined business will unite some of the best-known formats and dramas in international television. 

Banijay titles include MasterChef, Big Brother, Survivor and Peaky Blinders, while All3Media’s catalogue includes The Traitors, Gogglebox, Midsomer Murders, Call the Midwife and Race Across the World.

Based on 2024 performance, the merged entity would have generated revenues exceeding €4.4bn and adjusted earnings of €690m. Banijay said the transaction is also expected to deliver about €50m in cost synergies within a year of completion.

Marco Bassetti, the chief executive of Banijay Entertainment, will lead the combined company as chief executive, while Jane Turton, the chief executive of All3Media, will become deputy chief executive.

Jeff Zucker, chief executive of RedBird IMI and former head of CNN, will serve as chair of the board.

He said: “When we formed RedBird IMI three years ago, we dreamed of creating a world class, diversified entertainment company that reaches global audiences across scripted and unscripted programming, live events and digital.

“With this combination of Banijay Entertainment and All3Media, we have realized that goal, and are thrilled to partner with the entire Banijay team.”

According to a statement, the new company will operate under the Banijay name and will be jointly owned by Banijay Group and RedBird IMI, with each holding a 50% stake.

Under the terms of the deal, Banijay Group will receive €796m reflecting the relative valuations of the businesses, including a €625m payment from RedBird IMI and a €171m dividend ahead of completion.

François Riahi, chief executive of Banijay Group, said the merger strengthened the company’s position in the global entertainment market.

“This transaction represents a decisive step in Banijay Group’s strategy to reinforce its leading position in global entertainment,” he added. “Banijay Entertainment and All3Media are highly complementary platforms with exceptional creative assets and global ambition.”

The combined group will encompass more than 170 creative labels across 25 countries and distribute content in nearly 250 territories worldwide. Its catalogue will exceed 260,000 hours of programming across scripted, unscripted, factual and natural history genres.

The deal is subject to regulatory approvals and is expected to complete by autumn 2026.

Winkleman, who presents All3Media’s hit format The Traitors, is also preparing to launch a new BBC chat show later this month. The Claudia Winkleman Show will air on BBC One and iPlayer from 13 March, featuring what the broadcaster describes as an eclectic mix of guests ranging from Hollywood actors to British comedians.

She said she expects the programme to have a relaxed feel, joking that she may end up asking guests “about their favourite biscuits and their dog and people will actually fall asleep”.

She added that she is “trying to dress like Michael Aspel with a touch of Michael Caine” as she settles into the role of host.

READ MORE: ‘What if he falls?’. As Netflix prepares to broadcast one of the most dangerous feats ever attempted on television, the real spectacle may be what it reveals about our discomfort with fear and mortality, writes Alan Lawson.

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_{Main image: BBC}