Banijay, a French production company whose successes include Survivor, black mirror s kitchen masterSet to merge with the Special Purchasing Company (SPAC), or “Blank Check Company”, backed by billionaires Bernard Arno and Vincent Bolore.
As a result of the deal, Banijay’s assets will be transformed into a new company called FL Entertainment, along with online sports betting company Betclic. FL Entertainment will merge with SPAC Pegasus Entrepreneurs, backed by European asset management firm Tikehau Capital and investment firm Financière Agache. The group will be listed on the Euronext Amsterdam Stock Exchange on July 1, with an initial value of US$7.58 billion (7.2 billion euros), including debt. The company’s capital value is approximately 4.3 billion dollars (4.1 billion euros).
Existing shareholders of Banijay and Betclic, including French media giant Vivendi, have agreed to reinvest in the new company. Banijay chairman Stefan Kurbit called the merger a new “stage” in the company’s development.
“By co-founding FL Entertainment with Pegasus Entrepreneurs, our president, Stephen Curbit, created new opportunities for Banijay to grow and maintain a stable market position,” said Banijay CEO Marco Bassetti in a statement. In line with the ESG gold standard and business excellence goals, the listing further enhances our offering and we are all proud of the efforts of the LOV Group overall to achieve this milestone.
Banijay is one of the largest television production groups in the world, with over 120 production companies in 22 countries. In 2019, Banije bought Endemol Shine, the production company Ხმა s ᲓIdi brotherFor $2.2 billion.
The deal comes as private investment enters the entertainment industry, with PE groups such as Blackstone backing Candle Media, an investment firm that acquired children’s television group Moonbug Entertainment, producers Fauda Faraway Road Productions and Hello Sunshine and K Invests. by Reese Witherspoon. A joint group of French and German film and television companies Mediawan and Leonine.
Source: Hollywood Reporter

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