French production giant Banijay Group, the largest independent TV producer (Peaky Blinders, Black Mirror, Big Brother, MasterChef, Survivor) and U.K. production powerhouse All3Media (The Traitors, Squid Game: The Challenge, Race Across the World, The Tourist, 1917) have struck a deal to merge their production businesses, creating a new industry juggernaut.
All3Media, owned by Jeff Zucker and Gerry Cardinale-led RedBird IMI, is led by CEO Jane Turton. Banijay’s CEO is Marco Bassetti. RedBird IMI acquired All3Media in 2024 for $1.45 billion.
“When we formed RedBird IMI three years ago, we dreamed of creating a world class, diversified entertainment company that reaches global audiences across scripted and unscripted programming, live events and digital,” Zucker said. “With this combination of Banijay Entertainment and All3Media, we have realized that goal, and are thrilled to partner with the entire Banijay team.”
Both companies are considered super-indies. Given the industry-wide rush to expand scale and reduce costs, both have been understood to have in the past considered possibly buying ITV’s studio division, ITV Studios.
The combined production titan would have annual revenue of around $6.6 billion-plus. It would bring together a range of production firms. Banijay’s banners include the likes of Kudos, Tiger Aspect and Shine TV. All3Media’s production brands include the likes of Lion Television, Objective Media Group, and Silverback Films. A Banijay top executive last year told THR that the U.K. remains the company’s biggest production territory, followed by Spain and Italy.
Bassetti highlighted the benefits of scale last summer. “We are living in a world where consolidation and scale are really important,” he said, sharing that a few years ago, the firm had been afraid to be seen as “too big, too powerful.” But now, more consolidation is beneficial to industry players that need hit content, intellectual property, and production budgets in line with audiences’ expectations, he concluded.
Zucker, the former president of CNN and CEO of NBCUniversal, has emphasized that the investment company he now works for focuses on the core idea that “intellectual property and quality content, whether it’s entertainment or news and information, will succeed in the long run with the proper eventual amount of capital and patience.” So, instead of cost-cutting and “having to just manage decline,” his team was focusing on investing, building, and growing.
