Banijay and All3Media Merge: A Giant with 4.3 Billion Euros in Revenue
Banijay Entertainment and All3Media finalized their merger on July 9, 2026, with support from RedBird IMI. This move creates the world's largest independent content producer, generating a combined revenue of 4.3 billion euros in 2025.
A Global Leader in Independent Production
Banijay Group and RedBird IMI announced the completion of the merger between Banijay Entertainment and All3Media, initially announced in March 2026. The merged entity operates under the name Banijay Entertainment, owned 50% by Banijay Group and 50% by RedBird IMI, a fund established in 2022 by RedBird Capital Partners and Abu Dhabi-based media group IMI. The new group is based in 25 territories with headquarters in London. On a combined basis, Banijay Entertainment would have generated more than 4.3 billion euros in revenue in 2025, with an adjusted EBITDA exceeding 700 million euros.
Governance and Expected Cost Savings
Jeff Zucker, CEO of RedBird IMI, becomes the chairman of Banijay Entertainment. Marco Bassetti continues as CEO, while Jane Turton, former CEO of All3Media, is appointed Deputy Managing Director. The executive team will be based in London with a decentralized operational model by country. The merger is expected to generate approximately 50 million euros in cost savings in the year following closure. On a pro-forma basis for 2025, Banijay Group would have reached 7.4 billion euros in revenue, 1.6 billion euros in adjusted EBITDA, and 1.2 billion euros in adjusted free cash flow.
Cash Flow and Shareholder Distribution
The transaction generated an upstream gross cash flow for Banijay Group of 801 million euros, including a payment of 625 million euros from RedBird IMI and a pre-closure dividend of 176 million euros paid by Banijay Entertainment to Banijay Group. An extraordinary dividend of 0.93 euros per share has been confirmed for shareholders, to be distributed in the coming weeks.
