The French TV production company Banijay has closed its $2.2 billion acquisition of Endemol Shine Group. Upon the announcement of the deal’s closing, Endemol Shine CEO Sophie Turner Laing said she will exit the company at the end of next week.
“This deal bookmarks a creatively rich, commercially successful and relentlessly prolific five and a half years as Endemol Shine Group,” Turner Laing said in a statement. “It has been a real privilege and honour to lead such a talented and dynamic group of people, each of whom has played their part in, and should be proud of, our many collective successes over this time. As the start of an exciting new chapter in the company’s story, it is also the appropriate time for me to step down as CEO, and I wish Marco and his team the very best for the future.”
The deal, first announced last October, makes Banijay the largest TV production company outside of the U.S., enjoying a larger content catalog than international giants like BBC Studios. Among the company’s titles are “Survivor,” “Big Brother,” MasterChef,” “Keeping up With The Kardashians,” “Black Mirror,” “Extreme Makeover: Home Edition” and “Deal or No Deal.”
“The close of this unique deal represents the joining of two businesses built on entrepreneurialism, creativity and people,” said Banijay CEO Marco Bassetti. “Aligned in thinking, and approach, we now stand together as the world’s largest international content creation and distribution group. Expanding our catalogue and investment in high-quality, multi-genre IP, extending our footprint significantly, and welcoming a number of new world-class creatives, we hope to become a go-to for clients, and home for the best talent to create the most innovative and fresh scripted and non-scripted programming. With newfound scale and increased strength in the industry, we are excited by the path ahead. I’d like to finish by thanking Sophie for her ongoing support and hard work in such a challenging year.”
As announced last year, the deal was financed through a capital increase at Banijay Group and debt financing, including a full refinancing of Banijay and Endemol Shine’s existing debt, supported by Deutsche Bank, Natixis and Société Générale. Banijay is owned by both LOV Group and Italian firm Vivendi. LOV holds 67.1% of the new company, with Vivendi owning the other 32.9%.