By Gianluca Lo Nostro and Leo Marchandon
(Reuters) -French media group Banijay said on Friday it would pursue “transformative” acquisitions as part of its plans to scale up and win more market share in Europe’s entertainment sector.
Banijay, whose main shareholders include the Arnault family, asset manager Tikehau Capital and Vivendi, is in early talks about a combination with Britain’s ITV, two sources told Reuters in April.
The company has explored an offer for ITV production studios or a full takeover of the British broadcaster, the latter which would require further capital from a third party.
“We intend to scale further by aligning with major industry shifts,” Banijay CEO Francois Riahi said in a statement.
“This will be supported by both transformative acquisitions and targeted bolt-ons, expanding our presence in high-growth segments and new geographies,” he added.
Banijay’s shares were up 5.8% by 1044 GMT – adding to an 11% gain this year – after it also said it targets annual revenue of 7 billion euros ($7.85 billion) in 2028, with 1.2 billion in core profit. Annual revenue in 2024 totalled 4.80 billion euros.
The French TV production group behind “Big Brother”, cooking show “Masterchef” and sci-fi series “Black Mirror” held a capital markets day event in Paris on Friday.
Banijay is not specifically looking at acquiring broadcasters, Riahi said at the event, without explicitly mentioning ITV or its studios.
Banijay also owns sports betting platform Betclic, and is banking on its gambling and online casino arm which brought 1.5 billion euros in revenue in 2024 from regulated markets, notably in France, Poland and Portugal.
It is targeting a young and growing player base in African countries, especially in Ivory Coast, where it is already market leader.
The company has a small free float, with only 9% of its shares publicly traded in Amsterdam, leaving the stock susceptible to sharp moves.
($1 = 0.8933 euros)
(Reporting by Gianluca Lo Nostro and Leo Marchandon; Editing by Susan Fenton)
