Banijay Group announces combination of Banijay Entertainment and All3Media
Banijay Group and RedBird IMI to create leading media and entertainment powerhouse through the combination of Banijay Entertainment and All3Media
Banijay Group and RedBird IMI, the joint venture backed by RedBird Capital Partners and Abu Dhabi-based IMI media group, have entered into a strategic partnership to merge Banijay Entertainment (inclusive of Banijay Live) and All3Media, creating a global media and entertainment powerhouse. The new company will be called Banijay.
The new company, producer of hits including The Traitors, Big Brother, Survivor, Peaky Blinders, Gogglebox, House of Guinness, The Assassin and Oscar-nominated Hamnet, together with theatre productions such as multi-award winning The Lehman Trilogy, will be jointly owned by Banijay Group and RedBird IMI, with each holding a 50% stake. Banijay Group (AMS: BNJ) will continue to consolidate the new company’s earnings.
After completion of the transaction, Marco Bassetti, currently CEO of Banijay Entertainment, will serve as CEO of the newly formed group and Jane Turton, currently CEO of All3Media, will become Deputy CEO. Jeff Zucker, CEO of RedBird IMI, will become Chairman of the Board of the new combined entity.
Key growth segments
This strategic combination positions the company to lead the global content industry, strengthening scale, IP ownership, and exposure to key growth segments:
- Bolster scale in the global entertainment industry.
- Attracting and retaining world class talent.
– Grounded in IP ownership across a deep and diverse content portfolio, bringing together world-class IP under one roof and creating the industry’s leading content catalogue of more than 260,000 hours of multi-genre content, including ~45 formats produced in more than 3 territories in 2025.
– Strengthen positioning with global streaming platforms through the combination of Banijay Entertainment, the most diversified content production platform, and All3Media, with its strong presence across key English-speaking geographies, including a stronger footprint in the UK and the US.
– Accelerate IP monetization, continue diversifying our offering and create new revenue streams through digital and live adaptations, leveraging complementary capabilities across digital – through Little Dot Studios and Banijay Rights – and live experiences, through Banijay Live.
In addition to strategic growth opportunities, the transaction is expected to deliver approximately €50m of cost synergies. The full run-rate is expected to be achieved within 12 months post-closing of the transaction.
Long-term partnership between two pioneers
This transaction results in a full equity roll-over of RedBird IMI’s entire stake in All3Media into the new combined entity. This implies a total cash upstream for Banijay Group of €796m, including a payment of €625m to Banijay Group by RedBird IMI and a €171m pre-closing dividend paid by Banijay Entertainment to Banijay Group to reflect the valuations of All3Media and Banijay Entertainment agreed for the purpose of the transaction. This demonstrates a long-term partnership between two pioneers in the entertainment industry and a full alignment on future value creation.
On a pro forma basis, the combined entity would have generated revenues exceeding €4.4bn and adjusted EBITDA of €690m in 2024, bringing Banijay Group’s total 2024 pro forma revenues to €7.4bn and adjusted EBITDA to €1.5bn.
Banijay Group’s post-transaction leverage is expected at ~3x, at the end of 2026.
The proposed transaction is subject to customary regulatory approvals, and is expected to close by the fall of 2026.