On Monday, the Financial Times reported that French production powerhouse Banijay Group is in very early discussions about a possible bid. The talks are focused on acquiring either all of ITV or just its studio arm, according to two people familiar with the matter. If a deal were to happen, merging Banijay with ITV or ITV Studios would unite two of Europe’s largest TV production companies. ITV Studios is known for hit shows like Love Island, Disney+’s Rivals, The Voice, and Netflix’s Fool Me Once. Meanwhile, Banijay is behind major global hits such as Big Brother, MasterChef, Survivor, Peaky Blinders, and Black Mirror.
Interest in ITV Studios isn’t new. Companies like RedBird IMI, its production giant All3Media, and several private equity groups have reportedly shown interest in the past. Amid the ongoing takeover chatter, ITV’s stock price has seen a boost this year.
Despite the buzz, ITV remains focused on expanding its production business. During an earnings call with reporters last month, CEO Carolyn McCall addressed the speculation, without giving away much.
Carolyn McCall, CEO, ITV, said, “We’ve got a really high-quality business. We already have scale, and we’re very diversified. There’s been a lot of speculation, but I think you’d expect that speculation. There’s [also] speculation about Banijay and Fremantle, and there’s speculation about all studios businesses. We won’t comment on any speculation. All we would say is that we will continue to build the business as it has been built. We’ve grown even since 2018 by about 35 percent.”
The Financial Times report also suggested that if Banijay were to make a full bid for ITV, it would likely need to bring in additional investors to support the acquisition. ITV Studios has been a key part of ITV’s strategy to reduce its reliance on traditional advertising revenues. The company has increasingly focused on producing content for streaming services and global broadcasters. This diversification has helped ITV strengthen its business in a fast-changing media landscape.
At the same time, Banijay has been expanding its reach, following its major acquisition of Endemol Shine Group in 2020. Adding ITV Studios to its portfolio would further cement Banijay’s place as one of the largest content producers globally.
However, any potential deal would face close scrutiny, especially given the size of the companies involved and their importance in the European TV market. As of now, both sides are keeping quiet about any specific negotiations, and there is no certainty that the early-stage talks will lead to an official offer.
The entertainment industry has seen a wave of consolidation in recent years, with production companies merging to stay competitive in the streaming era. ITV and Banijay are both major players, and any move to combine their forces would be closely watched by competitors, investors, and regulators.