Banijay Eyes Major Acquisitions Amid ITV Interest
(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 largest 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.
The French TV production group behind "Big Brother" and cooking show "Masterchef" is due to hold a capital markets day event in Paris later on Friday.
Banijay's shares were up 2.7% at 9.7 euros by 0724 GMT - adding to an 11% gain so far 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 stood at 4.80 billion euros.
($1 = 0.8918 euros)
(Reporting by Gianluca Lo Nostro; Editing by Susan Fenton)
