Banijay’s $2.2 billion takeover of Endemol Shine, an Anglo-Dutch group twice its size, has given birth to a rare beast at a critical time. The France-headquartered combined entity ranks as th…
, an Anglo-Dutch group twice its size, has given birth to a rare beast at a critical time. The France-headquartered combined entity ranks as the —, and marks the indie world’s first major M&A deal to be completed in Europe since the start of theIt was never a straightforward deal to begin with: the process took more than two years to materialize following a year of on-and-off courtship and was finally completed after an eight-month antitrust process.
The combined group encompasses 200 production companies in 23 territories and a library that eclipses that of either BBC Studios or ITV Studios, with more than 88,000 hours. And while Banijay is rather lean and mean, Endemol Shine has a much larger structure with a head count of more than 4,000 , many of whom survived the Endemol and Shine merger in 2014. The challenge for Banijay now will be to do some heavy trimming without scaring off the talent.
The first major executive shuffles happened just days after the deal’s antitrust clearance, with the exit of Endemol Shine CEO Sophie Turner-Laing, who will step down July 10, and the appointment of Banijay CEO Marco Bassetti as CEO of the combined group. Back in April, Banijay also appointed Cathy Payne, former CEO of Endemol Shine International, as CEO of Banijay Rights.
The source added that it’s “not a coincidence that the world champion of independent production has non-scripted as its core business.” Indeed, the combined Banijay now boasts some of the biggest non-scripted hits, notably “Survivor,” “Big Brother,” “The Kardashians,” “The Voice,” “MasterChef” and “The Bachelor.” Streaming services such as Netflix and Amazon have also been eyeing global non-scripted formats following early success.
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