Bold claim: a Banijay-All3Media merger could reshape the global production landscape, and the announcement might come this very week. But here’s where it gets controversial: despite the excitement, nothing is guaranteed yet.
Overview and context
A multibillion-pound merger between Banijay, the Paris-based owner of Peaky Blinders (which is returning with both a film and a new series), and All3Media, the RedBird IMI-backed group, is moving through high-level discussions. The goal is to create a global production powerhouse with a portfolio that spans MasterChef, Peaky Blinders, Big Brother, Squid Game: The Challenge, and The Traitors, all under one umbrella.
Talks began publicly in January, and recent reporting from Sky News suggests the deal is in an “advanced” stage. Some sources caution that a signing this week isn’t guaranteed, underscoring the volatile nature of large media negotiations.
Financial scale and strategic rationale
The two groups reported combined revenues of around €6 billion (£5.2 billion) in 2024, reinforcing why the market expects a transformative deal. Over the years, both Banijay and All3Media have been linked to various merger explorations as the industry shifts its emphasis from traditional TV to streaming platforms.
Banijay is publicly traded on the Amsterdam Stock Exchange and has previously pursued All3Media (in 2023) without a price alignment. All3Media later came under RedBird IMI ownership in May 2024 for about £1.15 billion, following prior relationships with Warner Bros Discovery and Liberty Global.
What the merged entity could look like
If finalized, the merger would fold Banijay’s Entertainment & Live division together with All3Media, potentially with additional capital from RedBird IMI. Industry chatter suggests Marco Bassetti, Banijay’s Entertainment CEO, could lead the combined company.
The combined group would bring together more than 130 production companies across 25 territories for Banijay, and All3Media’s 40+ labels across the UK, US, Europe, and beyond, including notable names like Studio Lambert (the producer behind Squid Game: The Challenge) and Two Brothers.
Context and related moves
The wider media landscape has seen several near-misses and pivots: Banijay previously considered ITV Studios, while Sky has shown interest in ITV’s broadcasting and streaming assets. These ongoing deliberations underscore the industry’s push to scale in response to streaming demand.
The timing of any announcement remains fluid. Banijay issued a cautious statement when talks were confirmed in January, stressing that no decision had been made and that there could be no assurance of a concluded transaction. All3Media did not respond to a comment request at the time of reporting.
Why this matters (for readers and industry watchers)
A successful merger would consolidate a broad slate of IP, production capabilities, and global distribution networks, potentially accelerating content creation and distribution efficiency at a time when streaming competition is intensifying.
However, consolidation also raises questions: how will such a mega-group manage creative freedom across brands, how will employment and talent pipelines be affected, and could scale come at the expense of diversity in storytelling?
Discussion prompts
- Do you think a Banijay-All3Media union would improve quality and speed of content, or could it reduce competition and limit risk-taking? Why?
- If the deal unfolds, which brands or formats do you anticipate will benefit most from the combined resources? Which might feel the squeeze?
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