Banijay and All3Media Merge to Create Global Content Superpower

PARIS, France – March 03, 2026 – The global entertainment industry witnessed the formation of a new titan today as Banijay Group and RedBird IMI announced the strategic combination of Banijay Entertainment and All3Media. The deal forges a media and entertainment powerhouse, simply named Banijay, that dramatically reshapes the content production landscape with its immense scale, intellectual property, and creative firepower.

The new company, jointly owned in a 50/50 split by Banijay Group and RedBird IMI, will be led by a team of industry veterans. Marco Bassetti, current CEO of Banijay Entertainment, will serve as CEO of the newly formed group, with All3Media's CEO Jane Turton becoming Deputy CEO. Jeff Zucker, CEO of RedBird IMI, the joint venture backed by RedBird Capital Partners and Abu Dhabi's IMI media group, will take the role of Chairman of the Board.

“When we formed RedBird IMI three years ago, we dreamed of creating a world class, diversified entertainment company,” said Zucker. “With this combination of Banijay Entertainment and All3Media, we have realized that goal.”

A New Global Content Colossus

The sheer scale of the new Banijay entity is staggering. On a pro forma basis, the combined company would have generated revenues exceeding €4.4 billion in 2024, positioning it as the largest independent production group outside of the United States. This dwarfs competitors such as Fremantle, which reported €2.25 billion in revenue, and ITV Studios, which saw revenues of approximately €2.37 billion in the same period.

The merger consolidates a colossal content library of more than 260,000 hours, with an additional 20,000 hours expected to be produced annually. This vast catalogue includes some of the world's most recognizable formats and scripted series, such as The Traitors, Big Brother, Survivor, Peaky Blinders, Gogglebox, and the Oscar-nominated Hamnet. The new entity will operate through more than 170 creative labels spread across 25 countries, giving it an unparalleled global footprint.

Stéphane Courbit, President of Lov Group Invest and founder of Banijay, celebrated the move, stating, “We are delighted to continue to lead the consolidation of the independent content production industry with the combination of Banijay Entertainment and All3Media, creating an even stronger powerhouse.”

Navigating a Complex Regulatory Gauntlet

While the strategic vision is clear, the path to completion is a long one. The transaction is subject to customary regulatory approvals and is not expected to close until the fall of 2026, signaling the complexity of uniting two such significant players. The deal will undoubtedly face intense scrutiny from major antitrust authorities across the globe.

In Europe, the European Commission will closely examine the merger's impact on market competition. In the United Kingdom, where both companies have a substantial presence, the Competition and Markets Authority (CMA) is expected to conduct a thorough review, armed with expanded powers under the new Digital Markets, Competition and Consumers Act. Similarly, the combined entity's strengthened position in the vital US market means it will likely be reviewed by the Department of Justice (DOJ) and the Federal Trade Commission (FTC), which have recently adopted more stringent merger guidelines.

Regulators will be tasked with weighing the companies' argument for needing greater scale to compete globally against potential concerns about market concentration in the independent production sector. The extended timeline to closing reflects the intricate legal and regulatory processes that must be navigated before the two giants can officially become one.

The Strategic Imperative: IP, Streamers, and English-Language Dominance

At its core, this merger is a strategic play for dominance in the age of streaming. A key driver is the significant enhancement of Banijay's English-language content capabilities. All3Media generates approximately 80% of its production revenue from English-language content, which is considered the most valuable currency for global streaming platforms seeking to attract and retain subscribers worldwide.

By combining Banijay's global scale with All3Media's deep roots in the UK and US markets, the new entity becomes a preferred partner for global streamers. This strengthened position is crucial in an era where platforms are both clients and competitors, increasingly producing their own content. The deal aims to create a more balanced footing in negotiations and secure favorable multi-territory commissions.

“This transaction represents a decisive step in Banijay Group’s strategy to reinforce its leading position in global entertainment,” commented François Riahi, CEO of Banijay Group. He noted that the two companies are “highly complementary platforms with exceptional creative assets and global ambition.”

Monetization Beyond the Screen

The deal is not just about creating more television and film; it's about maximizing the value of that content across a diverse ecosystem. The merger is designed to accelerate IP monetization through a multi-pronged strategy. A powerful new digital engine will be created by combining All3Media's award-winning digital arm, Little Dot Studios, with Banijay's own distribution and digital capabilities. Little Dot's expertise in managing over 1,000 digital channels and generating billions of monthly views on platforms like YouTube and TikTok will be leveraged to expand the reach and revenue of the combined IP library across social, FAST, and OTT platforms.

Furthermore, the new Banijay plans to aggressively scale the adaptation of its premium IP into live and immersive experiences. Leveraging the expertise of Banijay Live, which has produced events like the Olympic ceremonies, the company aims to create new experiential revenue streams, extending the life cycle of its most popular brands in a similar fashion to the recent Black Mirror virtual-reality experience.

Financially, the transaction provides a significant cash upstream of €796 million for Banijay Group and is projected to deliver approximately €50 million in cost synergies within the first year post-closing.

Culture and Creativity in a Consolidated World

Beyond the financials and market strategy lies the critical question of creative culture. The new Banijay will house over 170 distinct production labels, many built on a foundation of entrepreneurial spirit and creative independence. A key challenge will be to preserve this culture within a vastly larger corporate structure.

The leadership has publicly committed to this goal. “Since its inception, Banijay has been driven by entrepreneurialism, ambition, and creativity,” said Marco Bassetti. “In the next phase of our journey, this DNA remains integral to our commitment to building a media and entertainment company that can… attract and retain the best talent.”

Jane Turton echoed this sentiment, reflecting on All3Media's growth: “First and foremost, we are a group where creative and commercial excellence go hand in hand. We celebrate talent and believe in collaboration, ambition and innovation.” The success of the merger will ultimately depend not only on integrating systems and achieving synergies, but on proving that this new content colossus can remain a fertile ground for the world-class creative talent that powers its engine.