‘Survivor’, ‘Black Mirror’ Producer Banijay To Go Public in $4B Merger – The Hollywood Reporter

Banijay, the French-based manufacturing firm whose hits reveals embrace Survivor, Black Mirror and MasterChef, is about to merge with a particular function acquisition firm (SPAC), or “blank check company” backed by billionaires Bernard Arnault and Vincent Bolloré.

The deal would see Banijay’s belongings folded into a brand new firm, referred to as FL Entertainment, along with Betclic, an internet sports activities playing firm. FL Entertainment will merge with SPAC Pegasus Entrepreneurs, which is backed by European asset administration firm Tikehau Capital and funding agency Financière Agache. The group will probably be floated on Amsterdam’s Euronext inventory market on July 1 with an preliminary enterprise worth of $7.58 billion (€7.2 billion), a determine that features debt. The firm’s fairness worth is round $4.3 billion (€4.1 billion).

Existing shareholders in Banijay and Betclic’s, together with French media big Vivendi, have agreed to reinvest within the new firm. Banijay Chairman Chairman Stéphane Courbit referred to as the merger a brand new “milestone” within the firm’s improvement.

Banijay is among the world’s largest tv manufacturing teams, with greater than 120 manufacturing firms throughout 22 nations. In 2019 Banijay acquired Endemol Shine, producer of The Voice and Big Brother, for $2.2 billion.

The deal comes as non-public fairness funding is pouring into the leisure business, with PE teams like Blackstone backing Candle Media, an funding enterprise which acquired children tv group Moonbug Entertainment, Fauda producers Faraway Road Productions, and Reese Witherspoon’s Hello Sunshine, and KKR investing within the merged group of French and German movie and TV firms Mediawan and Leonine.

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