AGL 8.30 Decreased By ▼ -0.03 (-0.36%)
ANL 10.95 Increased By ▲ 0.25 (2.34%)
AVN 79.70 Increased By ▲ 1.51 (1.93%)
BOP 5.75 Increased By ▲ 0.18 (3.23%)
CNERGY 5.64 Increased By ▲ 0.26 (4.83%)
EFERT 79.36 Increased By ▲ 0.71 (0.9%)
EPCL 67.48 Decreased By ▼ -0.31 (-0.46%)
FCCL 14.89 Increased By ▲ 0.39 (2.69%)
FFL 6.70 Increased By ▲ 0.10 (1.52%)
FLYNG 7.16 Increased By ▲ 0.13 (1.85%)
GGGL 11.60 Increased By ▲ 0.26 (2.29%)
GGL 17.51 Increased By ▲ 0.27 (1.57%)
GTECH 8.35 Increased By ▲ 0.05 (0.6%)
HUMNL 7.17 Increased By ▲ 0.11 (1.56%)
KEL 3.14 Increased By ▲ 0.06 (1.95%)
LOTCHEM 35.20 Increased By ▲ 2.33 (7.09%)
MLCF 28.35 Increased By ▲ 0.05 (0.18%)
OGDC 87.70 Increased By ▲ 3.15 (3.73%)
PAEL 16.63 Increased By ▲ 0.18 (1.09%)
PIBTL 6.05 Increased By ▲ 0.20 (3.42%)
PRL 19.46 Increased By ▲ 1.34 (7.4%)
SILK 1.14 No Change ▼ 0.00 (0%)
TELE 11.41 Increased By ▲ 0.31 (2.79%)
TPL 9.20 Increased By ▲ 0.20 (2.22%)
TPLP 20.25 Increased By ▲ 0.37 (1.86%)
TREET 27.10 Increased By ▲ 0.48 (1.8%)
TRG 96.20 Increased By ▲ 1.70 (1.8%)
UNITY 20.85 Increased By ▲ 0.48 (2.36%)
WAVES 13.90 Increased By ▲ 0.27 (1.98%)
WTL 1.34 Increased By ▲ 0.03 (2.29%)
BR100 4,275 Increased By 67 (1.59%)
BR30 15,794 Increased By 348.3 (2.26%)
KSE100 42,872 Increased By 628.4 (1.49%)
KSE30 16,219 Increased By 247.6 (1.55%)

French group Banijay said Saturday it had agreed to buy Dutch-headquartered rival Endemol Shine, the creator of a slew of hit series, to create a TV production giant. Banijay, a leading creator and distributor of TV content, said in a statement it would acquire 100 percent of the equity of the Endemol Shine Group, co-owned by Walt Disney Company and funds managed by affiliates of Apollo Global Management, Inc.

A Banijay source said the deal was close to two billion euros ($2.2 billon). The combined future group will host a variety of hit series such as "Black Mirror", "Versailles", "Peaky Blinders", "Big Brother" and "MasterChef". However, before the acquisition can be finalised it will first go through regulator checks. The new group would generate about three billion euros in revenue, which would place it alongside the British rival ITV and triple the size of Banijay, ending months of speculation that it would buy the Dutch rival, a Banijay statement said. The source said the move was a "strategic operation", adding: "Afterwards, there is a huge problem of debt therefore the outfit has to be very profitable."

The source put Endemol's debt at 1.6 billion euros. "Combining the resources of these two companies will instantly strengthen our position in the global market," Marco Bassetti Banijay's Chief Executive Officer said. The French group's acquisition comes after ITV ruled out bidding for Endemol Shine last year. Endemol Shine and the French have historical ties, as Banijay's founder and president, Stephane Courbit, has long worked for the Dutch group, where he headed the French subsidiary in the 2000s.

Copyright Agence France-Presse, 2019

Comments

Comments are closed.