Banijay Entertainment’s first financials since its merger with All3Media showed half-year revenues down slightly at €1.37 billion ($1.56 billion), as production volume fell.
Sales at the independent European production giant were down 2.2% on the same six months in 2025, which reflected “anticipated phasing in production and distribution.” The numbers do not include All3, whose financials will be included in quarterly reports from Q3.
Banijay’s production revenue fell 11.9%, while distribution was up 10.5% “fuelled in particular by a format sale in the first quarter.” Banijay is anticipating numbers to tick up in the second half of the year, with Q4 earmarked for significant activity.
Banijay Group groups Banijay Entertainment with its live events business, which saw its revenues zoom up nearly 50% on the back of the Winter Olympic Games and the FIFA World Cup.
Earlier this month, Banijay merged its entertainment arm with RedBird IMI’s All3Media, creating an $8B revenue giant that Banijay Entertainment Chair Jeff Zucker claims is the largest indie producer ever created.
The combined group owns the likes of MasterChef, Big Brother, The Traitors, Peaky Blinders, Midsomer Murders and Gogglebox, and has a library of more than 265,000 hours.
Banijay Group received €801M from the deal, including a payment of €625M from RedBird IMI and a €176M pre-closing dividend. The agreement meant Banijay and RedBird IMI have an equal split of the new Banijay Entertainment, which is led by Marco Bassetti as CEO, Jane Turton, former CEO of All3Media, as Deputy CEO, and Zucker, CEO of RedBird IMI, as chair.
Banijay announced today that its shareholders would get an exceptional dividend of €400M following the deal, which works out to €0.93 per share. The plan had first been revealed upon announcement of a deal with All3 back in March.
Banijay also noted that a seven-year €750M loan secured last month would go towards refinancing All3’s “outstanding” senior facilities, paying transaction fees and paying “certain” dividends related to the merger.
At group level, Banijay posted H1 revenues of €2.58B, up 16.9% year-on-year on a reported basis. Adjusted EBITDA was €502.9M, up 18.5%, though adjusted net income fell 3.7% to €141.5M.
The sports betting and gaming unit posted revenues only just behind entertainment, coming in at €1.21B. The unit is currently integrating Tipico, which was acquired in a multi-billion dollar deal in October last year, and is in the process of buying France’s second-largest casino operator, JOA.
“2026 is definitely a transformational year for Banijay Group,” said Banijay Group CEO Francois Riahi. “The successful acquisition of Tipico, the completion of the combination of Banijay Entertainment and All3Media, and the proposed acquisition of JOA in France grant to the group more scale, more diversity in terms of geography, channels of distribution, and a better strategic positioning to achieve all its strategic goals, creating new opportunities for both growth and value creation.”
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