Banijay, a French television production business planning to go public, reported stronger first-quarter sales and profits on Friday than a year earlier.
Banijay is the world’s largest worldwide content producer and distributor, with over 120 production businesses spread across 22 nations and over 120,000 hours of original programming.
Banijay will go public through a merger with a blank-check acquisition firm backed by billionaire Bernard Arnault. Production house behind global television hits such as “The Voice”, “Black Mirror,” “The Kardashians” and “Master Chef” to be listed.
Florentino Riahi’s FL Entertainment has been bought by Pegasus Entrepreneurs (PEACE.AS) and Financiere Agache, a holding company controlled by LVMH founder Arnault. The deal gives FL Entertainment an enterprise value of 7.2 billion euros, including debt, or 4.1 billion equity.
FL Entertainment will be the new owner of Banijay and Betclic, France’s second-biggest online gambling company.