The battle for the future of entertainment is becoming a battle for scale. As media companies race to bulk up to survive the streaming era, the newly formed Banijay Entertainment has emerged as one of the industry’s biggest players—and, thanks to a major investment from Abu Dhabi, could also help put the Gulf at the centre of the next chapter in global content creation.
The merger reflects a broader wave of consolidation sweeping the entertainment industry, with planned blockbuster deals including the planned merger of Sky and ITV’s television businesses in the U.K., and Paramount’s acquisition of Warner Bros. Discovery in the U.S. (which is currently facing legal challenges).
“The media ecosystem in the world is changing rapidly, and this merger allows us to keep up with all the changes taking place,” Jeff Zucker, the new chairman of Banijay Entertainment, told Fortune.
“It gives us great scale, a great library, a great distribution arm and great quality content. And I think that’s unmatched, frankly, in the world today.”
The $8 billion merger of Banijay Entertainment and All3Media creates a new entity spanning 25 countries. It is home to one of the largest independent back catalogues in the industry, with more than 265,000 hours of content.
