The parent companies of two of Australia’s biggest production companies are involved in one of the biggest acquisitions ever in TV production.
Analysts have valued that deal at around $3 billion.
The acquisition, which is subject to customary closing conditions, including regulatory clearances and consultation with the relevant employee representative bodies, will encompass Endemol Shine’s 120 production labels with an estimated 66,000 hours of scripted and non-scripted programming together with over 4,300 registered formats.
Upon completion of the acquisition, Banijay Group will own almost 200 production companies in 23 territories and the rights for close to 100,000 hours of content. Total pro-forma revenue of the combined group is expected to be approximately €3 billion for the year ending December 31st 2019.
In Australia Banijay owns Screentime Australia under the leadership of executive chairman Bob Campbell and CEO Rory Callaghan. The Endemol Shine Group operates Endemol Shine Australia under joint CEO’s Carl and Mark Fennessy.
Once the acquisition has been completed it is expected the two Australian production companies will continue to operate separately.
Marco Bassetti, chief executive officer at Banijay, said: “Endemol Shine brings an incredible array of industry-leading talent, globally-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 go-to provider of first class IP worldwide. Welcoming the Endemol Shine brands and talents to our existing business will signal enhanced opportunities in the marketplace, and we are all excited by what the future holds for the combined entity.”
Sophie Turner Laing, Endemol Shine Group chief executive officer, added: “At Endemol Shine, we have continually inspired and entertained audiences around the world, a testament to every single person across the group. This deal takes us into a whole new and exciting chapter and into a new enhanced global content house with many opportunities ahead.”