The merger of Banijay and All3Media has created the largest independent television production group in the industry's history, with operations spanning 25 territories and a vast catalogue of intellectual property. The deal marks the latest step in a decades-long consolidation trend in TV production, but the article argues that scale matters mainly to investors and financial markets, while broadcasters and viewers remain largely indifferent to corporate ownership, focusing instead on individual production labels and the shows themselves.

Author Remy Blumenfeld traces the lineage back over 25 years, from Endemol's acquisition of his company Brighter Pictures in 2001, through Endemol's merger with Shine, its subsequent acquisition by Banijay, and now Banijay's merger with All3Media. He notes that despite growing corporate scale, individual creative labels such as Kudos, Remarkable, Dragonfly and Studio Lambert retain their distinct identities when pitching to commissioners, and that audiences associate hit shows like The Traitors, Big Brother and Peaky Blinders with their brand rather than their parent company. The piece suggests the merger's real significance will depend on what the newly enlarged group does with its scale, drawing on conversations with founders and creative leaders across both companies over the past 18 months.