Banijay Group is on the verge of sealing a deal for production and distribution powerhouse Endemol Shine, sources tell Variety.
Vivendi-backed Banijay and Endemol Shine’s joint owners, Disney and Apollo, are understood to have scheduled a meeting for Thursday after talks accelerated in recent days, with Banijay now on the brink of finally closing a deal for a big asset it has been chasing.
Numerous industry players have taken a look at Endemol Shine, a huge production and content sales operation that has shows including “Black Mirror” and “Big Brother” in its deep catalogue. Eighteen months of on-and-off talks with various suitors have so far failed to reach a deal. All3Media dropped out of negotiations in recent weeks.
A source with knowledge of the situation told Variety that the purchase price in the proposed Banijay deal will be in the region of €2 billion ($2.2 billion). The source said Vivendi’s backing has been key to moving a deal forward. Off of those €2 billion, €1.75 billion would cover Endemol Shine’s debt, according to another industry source. That means Banijay would acquire Endemol Shine’s catalogue and production companies for a price in the range of €250 million.
Combining Banijay and Endemol Shine would create the largest TV producer-distributor in the market outside of the studios and U.S. players, with production companies on both sides of the Atlantic, a huge catalogue and sizable sales arms. There would be some overlap on the distribution side.
Banijay has been in advanced talks with Endemol Shine shareholders before, without a deal being finalized, but sources suggested this time that an agreement seems likely.
It would bring to an end a protracted sale process that has seen the likes of ITV, Fremantle, Endeavor Content and Sony among the numerous players that reportedly kicked the tires of a possible purchase..
Britain’s Daily Telegraph was the first to report the latest news on the potential sale.