French content producer Banijay Group said it’s buying rival Endemol Shine Group from Walt Disney and Apollo Global Management, creating a giant entity able to compete with the likes of ITV.
Banijay will acquire the Dutch production company behind hit shows like Black Mirror
and Peaky Blinders, confirming earlier reports. The buyer is backed by two conglomerates: France’s Vivendi and Italy’s De Agostini. A spokesman for Banijay declined to disclose any financial amount for the whole transaction. Banijay and Endemol Shine had been discussing a valuation of at least $2 billion, people with knowledge of the matter
Disney and Apollo were seeking a buyer for Endemol last year. They had attracted interest from suitors including Banijay, the UK broadcaster ITV and Hollywood
talent agency Endeavor Group Holdings, Bloomberg News reported at the time. Endemol called off the sale process after failing to reach an agreement. The acquisition will be financed through committed debt financing worth around $1.6 billion as well as $400 million from a capital increase by Banijay Group, people familiar with the deal said.