Banijay and All3Media merge to form $6.6B production giant

French media giant Banijay Group announced Monday it will merge its television production business with UK-based All3Media, creating one of the world's largest independent content companies with combined annual revenues exceeding $6.6 billion. The deal unites the makers of Big Brother, Survivor, and MasterChef with the producers of The Traitors, Squid Game: The Challenge, and Race Across the World under a single banner.hollywoodreporter

The new company will operate under the Banijay name and be jointly owned on a 50-50 basis by Banijay Group and RedBird IMI, the joint venture between RedBird Capital Partners and Abu Dhabi-based IMI media group. The transaction is expected to close by the fall of 2026, pending regulatory approvals.Yahoo+2

Leadership and Structure

Marco Bassetti, currently CEO of Banijay Entertainment, will lead the combined company as CEO, while All3Media's Jane Turton will serve as deputy CEO. Jeff Zucker, CEO of RedBird IMI, will become chairman of the board.deadline+1

"Since its inception, Banijay has been driven by entrepreneurialism, ambition and creativity," Bassetti said in a statement. "In the next phase of our journey, this DNA remains integral to our commitment to building a media and entertainment company that can stand its own, and the test of time, on the global stage."variety

The merger involves a full equity roll-over of RedBird IMI's stake in All3Media, with total cash proceeds of €796 million flowing to Banijay Group, according to the companies' joint press release. The companies expect cost synergies of approximately €50 million from the combination, according to The Hollywood Reporter.Yahoo+1

A Bid for Scale in the Streaming Era

The deal brings together more than 170 production labels across some 25 countries, spanning scripted hits like Peaky Blinders, Black Mirror, and Call the Midwife alongside dominant unscripted formats. All3Media's portfolio includes Studio Lambert, the firm behind The Traitors and Squid Game: The Challenge, as well as Neal Street Productions, which is producing the upcoming Beatles biopics directed by Sam Mendes.variety

RedBird IMI acquired All3Media in 2024 for $1.45 billion. Zucker said the merger fulfills the vision he and his partners had when they formed RedBird IMI three years ago: "creating a world-class, diversified entertainment company that connects with global audiences through scripted and unscripted content, live events, and digital platforms."deadline+1

Industry Context

The merger reflects broader consolidation among independent producers seeking leverage against streaming giants like Netflix ↘ 0.21%, Disney+ The Walt Disney Company ↗ 0.08%, and Amazon Amazon.com, Inc. ↘ 0.37% Prime Video, which have reshaped the economics of content production. Talks between the two companies began in late 2025 after Banijay abandoned its pursuit of ITV Studios, as Reuters first reported in January. Banijay had previously transformed itself into the world's largest independent producer through its 2020 acquisition of Endemol Shine Group.reuters.com+1

The combined entity will face regulatory scrutiny in both the UK and the European Union, given its substantial market share in television production across multiple territories.Fintool