Banijay Entertainment names Kathy Payne to lead its combined global distribution business following the completion of its $8 billion merger with All3 Media, while Louise Pedersen, CEO of All3 Media International, steps down.
Mr. Payne, currently CEO of Banijay Rights, will remain in that role as Banijay Rights and All3Media International are combined under the Banijay Rights banner.
Mr. Pedersen, a respected executive, said he was proud of what he had accomplished during his tenure, adding: “Now is a good time to think about what’s next.”
The announcement comes a day after Banijay and Redbird IMI formally completed a major merger, creating what chairman Jeff Zucker described in an interview with Variety on Thursday, shortly after the deal closed.
London-headquartered Banijay Entertainment will combine Banijay’s stable of hit formats and scripted titles, including “Big Brother,” “MasterChef,” “Peaky Blinders” and “Black Mirror,” with All3Media’s portfolio, including “The Traitors,” “Undercover Boss” and “Gogglebox.” Marco Bassetti will lead the combined company as CEO, Zucker will become chairman, and former All3Media CEO Jane Turton will serve as deputy CEO. The All3Media name will also be retired.
Payne said the merger brings together two complementary businesses with deep expertise in premium content and global rights exploitation.
“All3Media International has long been a pioneer in delivering great formats, scripted titles and premium English-language content across linear, streamer and new platforms, and we look forward to bridging these worlds and providing our clients with top-notch entertainment across all genres,” Payne said.
“Intellectual property is of course at the heart of this mix, but for me it’s also the people. At All3Media International and Banijay Rights, we have a very wide range of talent and by bringing them together we create perhaps the strongest team in our field,” Payne continued.
Mr. Turton said Mr. Payne is ideally placed to oversee one of the merger’s most important integration efforts.
“I’m very much looking forward to working with Kathy as she brings together the All3Media International and Banijay Rights businesses,” said Turton, adding, “Kathy is a highly experienced and respected strategic leader in the world of rights exploitation, and it’s an exciting time to be combining our catalogs with these two market-leading companies.”
Mr Turton paid tribute to Mr Pedersen, saying: “Louise has been a true pleasure to work with. She has been a trusted colleague for many years and has led All3Media International with great creative and commercial acumen. Louise’s knowledge and expertise are invaluable, and so is her passion for television.”
Bassetti told Variety on Thursday that the combined company will spend the next few months “digesting” the merger, aiming for about $60 million in synergies, primarily through real estate, management and support functions, rather than a network of about 170 production companies. He also pointed out that distribution is one of Banijay Entertainment’s key strategic growth areas, along with live entertainment, digital and sports.
Bassetti argued that the realignment of distribution operations will benefit both Banijay’s own producers and third-party partners by increasing their international reach.
“For small producers, our distribution arm will be an opportunity to monetize and create more value. If they want to come to us and distribute their stuff to us, there is space,” he said.
A change in management represents one of the first major management decisions after the merger is completed. Zucker told Variety that the company’s immediate priority is to integrate the two businesses before considering additional acquisitions, while Bassetti said Banijay Entertainment intends to reinvest the savings from the merger into developing new intellectual property and attracting top creative talent.
