Banijay Entertainment and RedBird IMI-owned All3Media have completed their $8 billion merger, forming what the companies call "the world's largest independent production company." Despite Banijay's French origins, the combined business — trading as Banijay Entertainment — will be headquartered in London, a boost for the UK's creative sector. The venture will be owned equally by Banijay Group and RedBird IMI, each holding a 50% stake, with Banijay Group consolidating the entity.

The deal unites two major television producers: Banijay, behind "Big Brother" and "Peaky Blinders," and All3Media, known for "The Traitors." The combined company spans 25 territories and holds one of the industry's largest catalogues, with more than 265,000 hours of content. On a combined basis for 2025, it would have generated over €4.3 billion ($4.9 billion) in revenue and more than $0.8 billion in adjusted EBITDA, with around $57 million in cost synergies expected within a year. Jeff Zucker will serve as chairman, Marco Bassetti as CEO and Jane Turton as deputy CEO.