French media firm Banijay close to buying Endemol: report

October 23, 2019 10:28
A french firm is said to be close to acquiring the production house behind global television hits as 'The Voice' and 'Black Mirror'. Photo: Reuters

French media company Banijay is close to sealing a deal to acquire Endemol Shine, the production house behind such global television hits as “The Voice” and “Black Mirror,” Reuters reports, citing a source familiar with the matter.

The deal would end a months-long, bumpy race for Endemol Shine to find a buyer.

The combined group with Banijay would generate close to 3 billion euros in annual revenue, beating British rival ITV, the report noted.

Netherlands-based Endemol, co-owned by Walt Disney Co and private-equity group Apollo Global Management, was put up for sale in July 2018 with a price tag of 2.5-3.0 billion euros (US$2.78-3.34 billion).

The business drew interest from several bidders at the time though the pool of suitors eventually shrank, with European broadcaster RTL Group walking away in August of last year.

Banijay, founded by French businessman Stephane Courbit, is controlled by his holding company Lov Group and DeA Communications, a company owned by Italy’s De Agostini Group.

French media conglomerate Vivendi also owns a minority stake.

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