In a major move to consolidate the global television landscape, Banijay Group, the powerhouse behind franchises like Big Brother and MasterChef, has confirmed it is in advanced discussions with RedBird IMI, the owner of All3Media. The potential tie-up aims to build massive scale for legacy TV producers as they face intensifying competition from streaming giants like Netflix, Disney+, and Amazon Prime Video.

The negotiations, which reportedly began in late 2025, focus on merging Banijay’s Entertainment & Live unit with All3Media, the producer of recent global hits such as The Traitors. If finalized, the merger would create one of Europe’s largest production groups, uniting a legendary slate of content including Survivor, Peaky Blinders, Race Across the World, and Midsomer Murders under one corporate roof.

The emerging joint entity is projected to generate annual revenues of approximately €5.7 billion ($6.65 billion), based on the companies’ 2024 financial data. As of January 12, 2026, Amsterdam-listed Banijay held a market capitalization of €3.42 billion. Because All3Media represents the smaller side of the transaction, sources indicate the deal would likely involve RedBird IMI injecting significant funds into the combined entity to balance the valuation.

This strategic pivot comes after Banijay abandoned its pursuit of Britain’s ITV Studios last year. Meanwhile, Banijay has been diversifying its revenue streams beyond television; its gaming arm recently made headlines with the €4.6 billion acquisition of Tipico, a leading sports betting operator in Germany and Austria.

The potential merger reflects a broader industry trend where traditional production houses are “bulking up” to retain leverage in a market dominated by digital platforms. Banijay’s Entertainment & Live Experience unit alone generated €2 billion in revenue during the first nine months of 2025, underscoring its strength in the unscripted and live formats that streamers are now aggressively targeting.

While Banijay confirmed the discussions, a formal statement emphasized that “no decision has been taken” and there is no guarantee that a transaction will be concluded. However, with talks at an advanced stage, industry stakeholders are watching closely to see if this “behemoth” will redefine European media production for the next decade.

Key Highlights:

• Consolidation Move: Banijay Group and All3Media (owned by RedBird IMI) are in advanced talks to merge their TV production units to better compete with global streaming services.
• Massive Scale: The combined entity would command roughly €5.7 billion in annual revenue and own iconic IP such as Peaky Blinders, The Traitors, and MasterChef.
• Funding Structure: As the smaller partner, All3Media’s owner RedBird IMI is expected to inject fresh capital into the merged group.
• Diversified Growth: The deal follows Banijay’s recent expansion into the gaming and sports betting sector through its €4.6 billion acquisition of Tipico.