Banijay Group CEO Explains $8 Billion All3Media Merger as Response to AI and Creator Economy Growth

The CEO of Banijay Group outlined how artificial intelligence and the rise of content creators drove the company’s $8 billion merger with U.K. production house All3Media, according to statements made during a Wednesday conference call. As detailed in the announcement of the deal, this merger represents a significant consolidation in the global entertainment production sector.

François Riahi, who leads the parent company of French production giant Banijay, described the deal’s rationale as delivering “more scale, more IP, more growth” and increased exposure to the creator economy with “true creative firepower,” according to his comments during the call.

The merger, unveiled late Tuesday Europe time, combines Banijay, the world’s largest independent TV producer behind shows like “Peaky Blinders,” “Black Mirror,” “Big Brother,” “MasterChef” and “Survivor,” with All3Media, which produces “The Traitors,” “Squid Game: The Challenge,” “Race Across the World,” “The Tourist” and “1917.”

CFO Sophie Kurinckx-Leclerc highlighted that the deal will boost Banijay’s exposure to English-language content during the conference call. She and Riahi emphasized that the combined company will become both the number one content provider to global streaming platforms and the largest English-language production studio outside the United States.

The merger creates equal ownership, with each company holding a 50 percent stake in the combined firm. Banijay CEO Marco Bassetti will lead the merged company as CEO, while All3Media CEO Jane Turton will continue in a leadership role. Jeff Zucker, who co-leads All3Media owner RedBird IMI with Gerry Cardinale, will serve as chairman of the board.

RedBird IMI acquired All3Media in 2024 for $1.45 billion, according to the companies. The merger is expected to close in the fall.

Management touted significant cost-saving opportunities during Wednesday’s call. The companies expect cost synergies from the deal to reach €50 million, or $58 million at current exchange rates.

Kurinckx-Leclerc expressed confidence in achieving these reductions, citing past acquisitions. “We demonstrated [this] in the past with Zodiak and also the Endemol integration,” she said during the call. “We have a strong track record on this. We are very confident.”

Riahi said he believes cost synergies could be reached “in a short time frame.” He outlined plans for “increased coordination across distribution and sales, eliminating duplication and improving commercial efficiency” as one area for cuts. The CEO did not provide specific details about changes to the companies’ sales divisions, Cathy Payne-led Banijay Rights and Louise Pedersen-led All3Media International.

Additional savings will come from “the optimization of central and support functions, and a far more integrated approach to procurement,” according to Riahi’s comments.

The deal brings together extensive production portfolios. Banijay’s banners include Kudos, Tiger Aspect and Shine TV, while All3Media’s production brands encompass Lion Television, Objective Media Group and Silverback Films.

The companies project that the combined firm would have generated revenues exceeding €4.4 billion and adjusted EBITDA of €690 million in 2024, according to their financial projections.

When asked about future consolidation, Riahi indicated more deals could follow. “Consolidation is the name of the game,” he said during Wednesday’s call, describing the All3Media acquisition as “complementary” and an example of “transformative consolidation.”

The merger positions the combined company to compete more effectively in an entertainment landscape increasingly dominated by streaming platforms and independent content creators, according to the executives’ statements during the call.