Banijay picks London as new HQ for TV maker after $8bn merger

Banijay Group and All3Media have merged to form one of the largest independent TV production groups globally, valued at $8 billion including debt. This deal, which has been years in the making, was announced in March 2026. The new entity, jointly owned by Banijay and investment firm RedBird IMI (which acquired All3Media for 1.15 billion pounds or $1.54 billion in 2024), aims to achieve greater scale in a consolidating television market increasingly dominated by streaming giants like Netflix, Disney+, and Amazon Prime Video.

The combined group is expected to generate pro forma 2024 revenues exceeding $4.4 billion (4.4 billion euros) and adjusted EBITDA of $690 million (690 million euros), with an additional $50 million in cost synergies anticipated within the first year after closing. Banijay's shares rose nearly 6% following the announcement, reflecting investor approval. The merger will see Banijay's CEO Marco Bassetti lead the combined company, with Jane Turton as deputy CEO and Jeff Zucker as chairman. The headquarters could be located in Paris, where Banijay is based, or London, home to All3Media.

The deal creates a vast global content empire, encompassing over 170 labels, 260,000 hours of content across 250 territories. It brings together popular shows such as "Big Brother," "Peaky Blinders," "MasterChef," "Keeping Up with the Kardashians" (from Banijay) and "The Traitors," "Fleabag," and "Squid Game: The Challenge" (from All3Media). Banijay's CEO François Riahi emphasized that "size matters enormously" and that the deal strengthens their position in global content amid streaming market consolidation and the rise of AI. RedBird IMI CEO Jeff Zucker also stated that further consolidation in the media industry is expected.

The transaction resulted in a cash payment of $796 million (796 million euros) to Banijay Group, including $625 million (625 million euros) from RedBird IMI. Both parties will hold 50% ownership of the new combined entity, which will retain the Banijay name. The transaction is projected to close by the fall of 2026. This strategic move highlights efforts by traditional producers to bulk up and enhance their competitive edge in a rapidly evolving entertainment landscape.