French media company Banijay close to buying Endemol

French media company Banijay is close to sealing a deal to acquire Endemol Shine, the production house behind such global television hits as “The Voice” and “Black Mirror,” a source close to the matter said.

The deal would end a months-long, bumpy race for Endemol Shine to find a buyer. The combined group with Banijay, which produces “The Temptation Island,” would generate close to 3 billion euros in annual revenue, beating British rival ITV.

Netherlands-based Endemol, co-owned by Walt Disney Co and private equity group Apollo Global Management, was put up for sale in July 2018 with a price tag of 2.5 billion euros-3 billion euros.

Banijay, founded by French businessman Stephane Courbit, is controlled by his holding company Lov Group and DeA Communications, a company owned by Italy’s De Agostini Group. French media conglomerate Vivendi also owns a minority stake.

French newspapers Le Figaro and Les Echos reported on Tuesday that talks for an acquisition of Endemol by Banijay for an enterprise value of about 2 billion euros, including debt, were close to reaching a deal.

 

Via Reuters