Banijay Keeps Options Open for ITV Studios as CEO Talks Industry Consolidation
Banijay-All3Media Merger Sparks Rumors of ITV Studios Acquisition
The impending merger between Banijay and All3Media is still months away from completion, yet rumors are circulating that Banijay is eyeing ITV Studios, especially as ITV prepares to split from the network amid potential sales to Sky.
During a recent call regarding the merger, which has formed an $8 billion production powerhouse, Banijay Group CEO François Riahi emphasized the importance of consolidation in the industry. Responding to reports from French media about ongoing interest in ITV Studios, Riahi stated, “What I said to French press was that we are excluding nothing. That goes for ITV Studios or any other. But clearly the point today is that consolidation is the name of the game.”
Riahi further noted that Banijay and RedBird IMI, the firm with which it is collaborating through the All3Media merger, are aligned in this perspective. He remarked, “RedBird IMI bought All3Media to create this kind of global platform… they realized they could not do it starting with All3, which was smaller than us, and smaller than ITV Studios, so that is why they combined their asset with ours.”
Since RedBird IMI’s acquisition of All3Media, the latter has remained largely silent in the mergers and acquisitions landscape, which has reportedly led to some internal frustration. Riahi indicated that discussions around All3Media began soon after RedBird’s purchase.
He explained, “They have talked to other people, we have talked to other people, sometimes the same people… we didn’t achieve consolidation of other studios so finally it was natural that we come together and say, ‘OK we want the same thing.’”
Riahi frequently referenced the merger between Paramount and Warner Bros. Discovery during the call, using it as a benchmark for the benefits of consolidation. “Why is Warner valued so much?,” he asked. “Because, in our industry, IP, scale and global position are very important. That is what we are strengthening.”
