Banijay and All3Media complete $8bn merger to form indie giant

The US version of All3Media’s The Traitors

The mega-merger between European production companies Banijay Entertainment and All3Media has concluded today, creating one of the world’s biggest independent content businesses.

Jeff Zucker

The deal, confirmed after months of speculation in March, sees Banijay Group and All3Media owner RedBird IMI merge Banijay Entertainment and All3Media to form an entertainment giant worth US$8bn.

As expected, RedBird IMI’s CEO Jeff Zucker will serve as chairman of the new entity, Banijay’s Marco Bassetti as CEO and All3’s Jane Turton as deputy CEO.

The merged business will be headquartered in London, where Bassetti and Turton will be based with a newly assembled leadership team, and will continue to operate Banijay Entertainment’s de-centralised country CEO-driven model.

The new firm will be jointly owned by Banijay Group and RedBird IMI (backed by RedBird Capital Partners and Abu Dhabi-based IMI Media Group), with each holding a 50% stake.

The companies said today that on a combined basis the new Banijay Entertainment would have generated more than €4.3bn (US$4.9bn) in revenues in 2025, and there will be expected costs synergies of €50m to be achieved within one year of closing.

France-based Banijay owns formats including Survivor, MasterChef and Big Brother, while All3Media is behind shows including The Traitors.

Both groups have large portfolios of production companies, with Banijay owning the likes of Mastiff, Kudos, Tiger Aspect and Shine TV following its previous mega-merger with Endemol Shine. All3Media backs companies including Studio Lambert, Lion Television, Objective Media Group, Silverback Films and its own US arm.

The move will also see two of the largest distribution operations in the game brought together under one roof.

All3Media International, led by Louise Pedersen, has a catalogue of over 30,000 hours, while the group’s digital business, Little Dot Studios, drives audiences in social video, podcasts and branded content across multiple platforms. Banijay Rights, helmed by Cathy Payne, has a library of over 220,000 hours.

Marco Bassetti and Jane Turton

RedBird IMI, led by former CNN chief Zucker and backed by Emirati royal Sheikh Mansour bin Zayed Al Nahyan, acquired All3Media for £1.15bn (US$1.45bn) in 2024.

Zucker said: “The completion of this merger marks a new era in global entertainment and creates a new independent leader in that category. This also marks a milestone for RedBird IMI, in only its third year, to play such a leading role in the global entertainment stage.”

Bassetti added: “This move signals a transformative step for Banijay Entertainment. Together, we are entering a new chapter as a global media and entertainment powerhouse and natural consolidator, uniting first-class creative talent and leadership, standout IP, and the diversified cross-territory expertise to build and retain long-lasting franchises that span every major market and platform.”

Turton said: “Leading All3Media has been a huge pleasure and privilege, and I have many people to thank – all of whose contribution has been immense in building something incredibly successful and highly respected. I am proud to be joining forces with Marco and the new team at a time when there is a huge appetite for brilliant shows developed and produced by world-class talent. Add to that the strength of a global distributor, a market-leading digital studio and a growing live events business and the opportunity multiplies many times over.”