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<\/p>\nIt was always a matter of when, not if Banijay Entertainment and RedBird IMI-owned All3Media would formally combine operations, but news that their merger had completed late Thursday still came quicker than expected for most.<\/p>\n
That included Jane Turton, most recently chief executive of All3 and now installed as deputy chief exec at Banijay Entertainment \u2013 the largest production-distribution group outside of the US studios, with a valuation of $8bn (6bn), combined annual revenues north of \u20ac4.3bn (\u00a33.7bn) and profits in the region of \u20ac700m (\u00a3597m).<\/p>\n
\u201cYou can never tell exactly how long clearance takes for these types of deals, but it is definitely earlier than we had anticipated at the beginning,\u201d she tells Broadcast as news of the merger\u2019s completion broke.<\/p>\n
Formalisation of deals such as this tend not to illicit much new information and the creation of the new Banijay Entertainment is not so different. We already knew there would be a capital injection from RedBird IMI, that its chief Jeff Zucker would be chairman of the enlarged entity, that Marco Bassetti would be chief exec and Turton his deputy \u2013 but there were still nuggets of news to be had and subtle suggestions of what this European behemoth\u2019s strategy might look like in coming years.<\/p>\n
UK-based, globally facing\u00a0<\/p>\n
For one, the company\u2019s corporate management team will be headquartered out of All3\u2019s London HQ with UK-based labels and the distribution team located at Banijay\u2019s West London HQ. That, plus Bassetti\u2019s relocation to London,\u00a0speak to the importance of the UK market and the English-speaking world to this French company.<\/p>\n
\u201cThere\u2019s a recognition on Marco\u2019s part that London and the British market are really very important in the world of media, and so it is a very logical place for us to be based,\u201d Turton adds, with the combined group\u2019s footprint now extending to 25 countries.<\/p>\n
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For those on the All3 side, it\u2019s a huge jump from the six-country reach it had previously, with the UK, the US and Germany its core markets, plus hub operations in Belgium, the Netherlands and New Zealand. Indeed, All3 is predominantly a UK-based company \u2013 40 of its 50-odd labels are in the country.<\/p>\n
Banijay Entertainment \u2013 a division of the larger Banijay Group that will continue to house the expanded company \u2013 is a different beast, with revenues roughly three times higher than All3. It has extensive operations across Europe, in Brazil, in Asia and in the US, but the UK remains its biggest market by revenue. And while Banijay\u2019s global production revenues skew around 25%-75% in favour of unscripted, the combined company\u2019s scripted footprint in the UK will be large.<\/p>\n
Eleven of its 24 UK labels are scripted \u2013 think House of Guinness producer Kudos or The Rig\u2019s Wild Mercury \u2013 while All3 houses around 15 drama-skewing outfits such as Call the Midwife\u2019s Neal Street and The Tourist\u2019s Two Brothers Pictures. Combined, the scripted heft will be considerable.<\/p>\n
Management and structure<\/p>\n
There has been little detail on who will be brought inside Zucker, Bassetti and Turton\u2019s inner circle, but Banijay\u2019s \u201cde-centralised\u201d structure will remain, with country managers overseeing operations.<\/p>\n
\u201cThey\u2019ve obviously got lots of markets that have the territory management system, with people to oversee those different labels within each market, and obviously it makes complete sense to continue to use that model, Turton adds.<\/p>\n
\u201cWe\u2019ve been slightly different, we\u2019ve always had six markets, it\u2019s just a function of their considerable geographic reach compared to our much narrower geography, but [the country manager model] means you have a very savvy market approach strategically. Your management is also aware of their market and able to respond in that specific territory.\u201d<\/p>\n
What seems to interest Turton far more than what type of management model will be implemented is the 25-country footprint that her labels will now get to exploit.<\/p>\n
\u201cIt\u2019s one of the most exciting things for the All3 producers\u00a0\u2013 they have access in both directions for IP in and out of those markets. Producers developing IP can now find colleagues within Banijay who can talk to them about those programmes, and they can travel the world and produce in-house under the Banijay label\u00a0\u2013 that relationship will be a new thing. And for them, it\u2019s a very positive new thing.\u201d<\/p>\n
Turton also sees talent and formats coming back to All3 labels as well. \u201cThe foreign language element of it is very exciting, the new talent, the whole breadth of culture, the new platforms emerging, it\u2019s all very healthy.\u201d<\/p>\n
Distribution, cuts and growth<\/p>\n
The synergy savings of just \u20ac50m took many by surprise when they were first announced three months ago and that figure was confirmed today. Turton reiterated that creative would be protected \u2013 see more on that below \u2013 but back office corporate functions and distribution are likely to be hit.<\/p>\n
All3Media International will run alongside Banijay Rights until the integration process starts in earnest, but distribution will ultimately be under the latter\u2019s name (indeed the All3Media label is also to be retired).<\/p>\n
Around 265,000 hours will be in the catalogue and available to buyers around the world, but expect All3\u2019s Little Dot Studios to play an increasingly large role in how that content gets distributed too. The YouTube, brand and social outfit has been put front and centre in all press releases since the merger was announced, and that\u2019s for a simple reason, Turton says.<\/p>\n
![\"The](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/07\/1483251_thetraitorss3_218163.jpg\")
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\u201cLittle Dot is prominent because we see it as a real growth opportunity. It\u2019s a growth opportunity that is in every respect additive, incremental. It\u2019s not winning market shares from our conventional competitors, it\u2019s actually creating new value in a new space. That\u2019s quite exciting strategically.<\/p>\n
\u201cIt\u2019s also entirely global,\u201d she continued, pointing to content being produced originally in the UK then consumed in North America where the ad dollar provides greater returns. And she also points to History Hit as another \u201creally interesting example of something where they\u2019re serving a super fan\u201d.<\/p>\n
Which takes us neatly onto a key premise for this deal: with such a deep talent base of producers and a rich, hefty catalogue, the opportunity to drive growing revenue streams, particularly by tapping into fandoms and the opportunities around digital and social, is clear.<\/p>\n
\u201cIf you can start to develop brands, franchises, products for that type of audience, again, that\u2019s slightly different from what we do. It\u2019s adjacent to traditional television production, and you\u2019re diversifying out from your normal business to a model that\u2019s more business to consumer,\u201d Turton says.<\/p>\n
She also\u00a0points to different monetisation models, brand partnerships, a world \u201cthat\u2019s been disintermediated\u201d and in which her company will have quite a bit of agency in as being exciting prospects.<\/p>\n
\u201cThe opportunity to grow Little Dot is considerable,\u201d she continues, adding that both organic and inorganic moves will be explored over the next few years.\u00a0That inorganic growth story could be one to watch, given the deal will deleverage Banijay and see RedBird IMI injecting capital into the business to ensure the deal can be a 50\/50 split.<\/p>\n
\u201cWe\u2019ll be looking at companies, individuals, opportunities that might be startup or we might acquire businesses that pre-exist, that are established, that are young but growing,\u201d she explains.<\/p>\n
There is also a growth story around live experiences, building on creating events as All3 has attempted to do with The Traitors. Turton is bullish \u2013 \u201cthe margins are nice\u201d \u2013 and the strategy is clear. \u201cIf you have a big franchise, what do you do with it nowadays? You need to be doing far more with it in terms of the breadth of your exploitation, and live is one aspect of that.\u201d<\/p>\n
Production and scale<\/p>\n
While exploiting IP on YouTube, FAST and social, alongside creating fandoms and delivering live events, might all be growth stories for investors, what about the more traditional fare of producing TV shows in a clearly challenged market? Will Banijay Entertainment\u2019s focus start shifting away from its TV, and more latterly streaming, roots?\u00a0<\/p>\n
\u201cLook, you\u2019re talking to someone who would always refute that we\u2019re pivoting anywhere away from the original core business, because I still believe the core business is very much at the heart of this,\u201d Turton says.<\/p>\n
![\"Jane](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/07\/1483254_janeturton_485432.jpg\")
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\u201cWhy? Because a lot of the things that we describe are adjacent to the core business only happen because of the core business. If you can create a brand franchise in the entertainment sphere, it is a [wider] product you are creating. The product may come originally from a game that you then take into television, and you might take it into scripted or unscripted, or into an immersive experience. You can start that journey anywhere, but what we are world class at is developing and producing and exploiting television, so if that\u2019s what we\u2019re calling the core business.<\/p>\n
\u201cI would be absolutely astounded if any decision is going to be made to say that our strategy is to take the emphasis off that core business.\u201d<\/p>\n
The scale of Banijay Entertainment will assist in this regard. Turton points to the diversity of production within the group but also the ability to explore new funding models.<\/p>\n
\u201cWhat are those models and how do they work? How do we leverage our position to make sure that we\u2019re well placed to exploit our IP? Risk profiles change as you look at new models so a well-capitalised bigger producer is obviously quite well placed to explore some of those opportunities.<\/p>\n
\u201cThe breadth of the geography, of the slate, the multi-genre nature of it, the multi-talent nature of it \u2013 that whole portfolio surely gives us an opportunity,\u201d Turton says.\u00a0<\/p>\n
Leverage<\/p>\n
That scale may also assist the group in leveraging its power over global \u2013 increasingly consolidated \u2013 buyers, namely streamers. But Turton adds it is less about commercial leveraging and more about expanding the talent base to draw in buyers.<\/p>\n
\u201cFor me, leverage you get is\u00a0more about the creation of multiple opportunities through size and diversity versus just pure size.<\/p>\n
\u201cWe\u2019ll still be dealing with a very big Netflix, even as a bigger producer. Having spent a lot of years as a seller, you still feel very much like you know the power sits with the buyer, so my argument would be that it\u2019s the richness of the offer and this complex, very fertile and productive portfolio that we have with our increased size that gives you more opportunities versus just pure muscle.\u201d<\/p>\n
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One way to add more creative muscle would be to acquire one of the mid-sized groups, say ITV Studios, which is set to become a standalone \u2013 and eminently acquirable \u2013 entity within 18 months. But Turton admits she is being \u201ccoy\u201d in downplaying any M&A plans.<\/p>\n
\u201cThere are multiple opportunities, and you could probably name six or seven pillars that we\u2019d be looking at for growth. Like most businesses, we don\u2019t narrowly restrict ourselves to one, but I don\u2019t think that production companies would ever be off the cards, particularly if they bring talent and IP.\u201d\u00a0She also points to AI-related firms, live event outfits and digital companies, adding \u201cwatch this space\u201d.<\/p>\n
But the core focus will inevitably remain on creative, Turton adds. \u201cThese businesses are very dynamic, let\u2019s be clear about that. They change all the time, they bring new people in and some people go, that\u2019s how it works because these are people businesses.<\/p>\n
\u201cThe intention is absolutely to preserve and strengthen the creative in the business from this merger. Our people are strong market leading developers and sellers and producers. The last thing you would do as a rational and strategic brain is to damage that.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"It was always a matter of when, not if Banijay Entertainment and RedBird IMI-owned All3Media would formally combine…\n","protected":false},"author":2,"featured_media":684611,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[96,391,56,54,55],"class_list":["post-684610","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tv","tag-entertainment","tag-tv","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/684610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=684610"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/684610\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/684611"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=684610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=684610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=684610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}