Banijay Entertainment’s first financials since its merger with All3Media showed half-year revenues falling slightly to €1.37 billion ($1.56 billion), with production volumes falling.
Sales at the European independent production giant fell by 2.2% compared to the same six months of 2025, reflecting “expected stages in production and distribution.” The numbers do not include All3, whose financials will be included in quarterly reports from the third quarter.
Banijay’s production revenue fell 11.9%, while distribution rose 10.5% “particularly driven by format sales in the first quarter.” Banijay expects the numbers to rise in the second half of the year, with the fourth quarter set for significant activity.
The Banijay Group brings together Banijay Entertainment with its live events business, which has seen its revenues increase by nearly 50% on the back of the Winter Olympics and FIFA World Cup.
Earlier this month, Banijay merged its entertainment arm with RedBird IMI’s All3Media, creating an $8 billion revenue behemoth that Banjay Entertainment president Jeff Zucker claims is the largest independent producer ever created.
The merged group has proverbs Master Chef, Big brother, Traitors, Peaky Blinders, Medium homicides and googleboxIt contains a library of more than 265,000 hours.
Banjay Group received €801 million from the deal, including a €625 million payment from RedBird IMI and a profit of €176 million before closing. The agreement means that Banjay and RedBird IMI have an equal stake in the new Banjay Entertainment, which is led by Marco Bassetti as CEO, Gene Turton, former CEO of All3Media, as executive vice president, and Zucker, CEO of RedBird IMI, as president.
Banjay announced today that its shareholders will receive an exceptional dividend of €400 million following the transaction, amounting to €0.93 per share. The plan was first revealed when a deal with All3 was announced in March.
Banijay also noted that a seven-year, €750 million loan taken out last month will go toward refinancing All3’s “pending” senior facilities, paying transaction fees and paying “certain” dividends related to the merger.
At a group level, Banijay recorded first-half revenue of €2.58 billion, up 16.9% year-on-year on a reported basis. Adjusted EBITDA was €502.9 million, up 18.5%, although adjusted net income fell by 3.7% to €141.5 million.
The sports betting and gaming unit posted revenues just behind entertainment, at €1.21 billion. 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 certainly a transformative year for Banijay Group,” said François Riahi, CEO of Banijay Group. “The successful acquisition of Tipico, the completion of the merger of Banjay Entertainment and All3Media, and the proposed acquisition of JOA in France, gives the group greater scale, greater diversity in terms of geography and distribution channels, and a better strategic position to achieve all its strategic objectives, creating new opportunities for both growth and value creation.”
