(qlmbusinessnews.com Wed, 13th Dec, 2023) London, UK —
“Game-Changer: All3Media on the Brink of £1 Billion Deal with Abu Dhabi-Backed RedBird IMI”
In a significant move, the Abu Dhabi-backed investment group, RedBird IMI, a collaboration between RedBird Capital in the US and International Media Investments (IMI) of Abu Dhabi, is on the brink of finalizing a takeover of All3Media. This UK media powerhouse is renowned for producing popular shows like Call the Midwife, Squid Game: The Challenge, Gogglebox, and Midsomer Murders.
All3Media, headquartered in the UK and jointly owned by Warner Bros Discovery and Liberty Global, has been on the market since earlier this year. The US media giants acquired the group in 2014 for £550 million. RedBird IMI is now engaged in advanced negotiations for a potential deal that could exceed £1 billion, according to reports.
Exclusive negotiations between RedBird IMI and All3Media might commence before Christmas, as per the Financial Times. However, the outcome remains uncertain at this stage.
Various bidders have shown interest in acquiring All3Media, including Banijay, Sony, Goldman Sachs, Peter Chernin’s North Road Company, and ITV, the latter owning a significant program-making division in ITV Studios. ITV, a strategic favorite due to shared ownership with Liberty Global, eventually withdrew from the race, citing concerns over the asking price.
While RedBird IMI's acquisition of the Telegraph and Spectator magazine is under rigorous regulatory scrutiny, including an Ofcom investigation into press freedom issues linked to UAE ownership, a potential takeover of All3Media is not anticipated to trigger similar political and competition concerns.
All3Media, under the leadership of Jane Turton, reported revenues exceeding £1 billion and profits surpassing £100 million in 2022. Established in 2003 by former ITV executives, the group has expanded from 19 production companies to over 50 in the past decade.
As the negotiations unfold, All3Media, along with Liberty Global and Warner Bros Discovery, has chosen not to comment on the matter. The UK media landscape awaits the outcome of these pivotal developments.
#All3Media #RedBirdIMI #MediaAcquisition #UKTelevision #AbuDhabiInvestment #Gogglebox #TVProduction #MediaNews #BusinessDeal #EntertainmentIndustry #AcquisitionWatch 📺💼🌐
This News Story is brought to you by QLM Business News, your Digital Media Channel
Visit QLM businessnews.com
For more business news stories also follow us on Facebook, X and Youtube.
To Help qlm business news bring you more new stories like this, please like, share and subscribe.
