Abu Dhabi-backed RedBird IMI has agreed to combine its portfolio company All3Media with Banijay Entertainment in a deal that will create a global production group with more than €4.4 billion ($5.1 billion) in annual revenue and one of the industry’s largest content libraries.
The deal, structured as a joint venture between RedBird IMI and Banijay Group, will combine Banijay Entertainment, including its live events arm, with All3Media and will operate under the Banijay name. The partners will each hold a 50 per cent stake.
RedBird IMI will roll over its entire stake in All3Media into the new entity. The agreement implies a total cash upstream of €796 million for Banijay Group, including a €625 million payment from RedBird IMI and a €171 million pre-closing dividend.
The combined Banijay-All3Media group would have generated pro forma revenue of more than €4.4 billion in 2024, with adjusted earnings before interest, tax, depreciation and amortisation of €690 million, the companies said. The French Banijay Group’s total pro forma revenue would rise to €7.4 billion, it said.
The transaction is subject to customary regulatory approval and is expected to close by autumn 2026.
Abu Dhabi's global outreach
For Abu Dhabi, the transaction is a significant expansion of its footprint in global media and intellectual property, reinforcing the emirate’s strategy to invest in premium content and international platforms through IMI, a privately owned global media group.
“When we formed RedBird IMI three years ago, we dreamt of creating a world-class, diversified entertainment company that reaches global audiences across scripted and unscripted programming, live events and digital,” said Jeff Zucker, chief executive of RedBird IMI. “With this combination, we have realised that goal.”
RedBird IMI was formed in 2022 through a partnership between New York private equity firm RedBird Capital Partners and IMI, which is based in Abu Dhabi and has a significant presence across news and content internationally. The National is owned by IMI. Redbird IMI invests in premium companies across news, media, entertainment, sports and live events.
-
RedBird IMI and Banijay Group are joining forces to create a portfolio that will include TV hits such as The Traitors UK ... All photos: Banijay Group / RedBird IMI -
The Assassin -
Gogglebox -
Hamnet -
Peaky Blinders -
Big Brother UK
Diverse entertainment portfolio
Its existing portfolio includes Media Res Studio, the independent studio behind Apple TV+’s The Morning Show; EverWonder Studio, which has produced major Netflix sports and entertainment events, including the Mike Tyson vs Jake Paul fight and Reality Check: Inside America’s Next Top Model; Bright North Studios; Hidden Pigeon Company; Front Office Sports; and the United Football League.
The expanded company will encompass more than 170 creative labels across 25 countries and operate in nearly 250 territories, with a catalogue exceeding 260,000 hours of content. It will produce about 20,000 hours annually across scripted, unscripted, factual and natural history genres.
The portfolio includes global franchises such as The Traitors, Big Brother and Survivor, alongside TV hits including Peaky Blinders and Black Mirror. The new deal will strengthen relationships with global streaming platforms, particularly in key English-speaking markets such as the UK and the US, where All3Media has a strong presence.
It is also expected to deliver about €50 million in annual cost synergies, with full run-rate savings targeted within 12 months of closing, the companies said.
Leadership of the combined entity will reflect the joint structure. Marco Bassetti, currently chief executive of Banijay Entertainment, will lead the new group as chief executive. Jane Turton, chief executive of All3Media, will become deputy chief executive, while Mr Zucker will serve as chairman.
