Banijay to acquire Endemol Shine Group

The acquisition, subject to customary closing conditions, will encompass Endemol Shine's 120 production brands with an estimated 66,000 hours of programming along with more than 4,300 registered formats.

The group Banijay has signed a definitive agreement to acquire 100% of the share capital of Endemol Shine Group, co-owned by The Walt Disney Company and funds managed by subsidiaries of Apollo Global Management. The acquisition, subject to customary closing conditions, will encompass all 120 Endemol Shine production brands with an estimated 66,000 hours of programming along with more than 4,300 registered formats.

Following the acquisition, the Banijay group will be owner of almost 200 production companies in 23 territories and the rights to nearly 100,000 hours of content. Total pro-forma revenues of the combined group are expected to be approximately €3 billion for the year ending December 31, 2019.

The combined catalog will include some of the world's best-known brands and formats, such as Black Mirror, Versailles, The Millennium Trilogy, Peaky Blinders, Big Brother, MasterChef, Survivor, Temptation Island, Wife Swap y The Island. Additionally, with a significantly expanded brand portfolio and broader creative platform, the combined group will be in an even stronger position to create, cultivate and drive new intellectual property for both linear broadcasters and new entrants.

The acquisition will be financed through a capital increase of the Banijay group and a committed debt financing, including a complete refinancing of the existing financial debt of Banijay and Endemol Shine, supported by Deutsche Bank, Natixis and Société Générale. Following closing, the combined group will be held by LDH (67.1%) and Vivendi (32.9%).

LDH is a holding company controlled by Financière LOV (52%), the investment arm of Stéphane Courbit. LDH has the following shareholders: the Italian group De Agostini, with 36% of the capital, and Fimalac, the investment company of Marc Ladreit de Lacharrière, which will own 12% of the capital through a reserved capital increase dedicated to financing the acquisition of Endemol Shine. In addition to a direct investment in LDH, Fimalac will strengthen its long-term partnership with Financière LOV by increasing its stake in Financière LOV from 5.75% to 8.4%.

Marco Bassetti, CEO of Banijay, said: "Endemol Shine brings an incredible array of industry-leading talent, world-renowned brands and high-quality creative content. Combining the resources of these two companies will instantly strengthen our position in the global market, and our capabilities across genres will further define us as a world-class IP provider around the world. Welcoming Endemol Shine's brands and talents into our existing business will signal greater opportunities in the market. and we are all excited about what the future holds for the combined entity.”

For her part, Sophie Turner Laing, CEO of Endemol Shine Group, adds that "at Endemol Shine, we have continually inspired and entertained audiences around the world, a testament to every single person in the Group. This agreement takes us to a completely new and exciting chapter and a new enhanced global content house with many opportunities ahead."