The French-based production giant is set to merge with a group backed by billionaires Bernard Arnault and Vincent Bolloré.
Existing shareholders in Banijay and Betclic’s, including French media giant Vivendi, have agreed to reinvest in the new company. Banijay Chairman Chairman Stéphane Courbit called the merger a new “milestone” in the company’s development.
“In forming FL Entertainment with Pegasus Entrepreneurs, our Chairman Stéphane Courbit has created new opportunities for Banijay to grow and maintain its resilient position in the market,” Banijay CEO Marco Bassetti said in a statement. “Aligning us with gold standard ESG and business excellence targets, the listing further strengthens our offering and we are all proud of the efforts of the wider LOV Group team in reaching this momentous milestone.
Banijay is one of the world’s largest television production groups, with more than 120 production companies across 22 countries. In 2019 Banijay acquired Endemol Shine, producer of
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