Zucker's $8 Billion Content Empire Launches Across 25 Nations, 170 Studios

Jeff Zucker’s new company launched not in Hollywood but on the back of an $8 billion merger that stretches across 25 countries, 170-plus production firms, and more than 265,000 hours of library content. Banijay Entertainment, formed from the combination of Banijay Group and All3Media, is now the vehicle through which Zucker intends to operate at a scale he argues is essential for surviving the streaming era.

The financial architecture behind the deal runs through Abu Dhabi. RedBird IMI, the investment partnership between New York-based RedBird Capital Partners and International Media Investments, provided the capital to close the transaction. IMI, controlled by Sheikh Mansour bin Zayed Al Nahyan, the UAE’s vice president and deputy prime minister, had already acquired All3Media in early 2024 for £1.15 billion ($1.5 billion). That prior acquisition effectively staged the larger consolidation now taking shape under Zucker’s leadership.

On a combined basis, Banijay Entertainment is projected to generate more than 4.3 billion euros ($4.88 billion) in revenues and more than 700 million euros ($796 million) in adjusted earnings in 2025. Cost savings of 50 million euros are expected within a year. The portfolio spans franchises including MasterChef, The Traitors, Big Brother, and Peaky Blinders, alongside productions such as Hamnet and the Culpa trilogy.

The merger reflects a broader consolidation wave. Sky and ITV are combining their television businesses in the U.K., while Paramount is pursuing an acquisition of Warner Bros. Discovery in the U.S., though that deal faces legal challenges. Zucker, the former president of CNN Worldwide and former chief executive of NBCUniversal, frames the move as necessary adaptation. “The media ecosystem in the world is changing rapidly, and this merger allows us to keep up with all the changes taking place,” he told Fortune.

Meanwhile, streaming now accounts for 47.6% of TV viewing compared with 19.9% for broadcast, according to Nielsen data from April. That shift has intensified pressure on production companies to aggregate audiences cost-effectively. Tim Westcott, practice lead for digital content and channels at Omdia, told Fortune that the merger positions RedBird IMI and Banijay to compete more effectively for commissions from major broadcasters. “Production companies today are really under pressure to have proven successes, given linear TV audiences are declining, and a lot of consumers are moving to online platforms,” he said.

Beyond the financial metrics, Zucker has identified the Gulf region as a largely untapped source of content. Banijay already operates productions in the UAE, including The Lost Kingdom of Arabia and a history program centered on the 67-million-year-old T. rex skeleton housed at the Natural History Museum on Saadiyat Island in Abu Dhabi. These productions exist because of IMI’s investment, and Zucker frames them as the beginning of a broader regional content strategy. “With us being a bigger presence there, and looking for more content, there’s no reason to believe the UAE shouldn’t be a bigger exporter of content,” he said.

The company’s live-events operation is also part of the growth calculus. Banijay produced the opening ceremonies for the Milano Cortina Winter Olympics in February and the FIFA World Cup in the U.S., Canada, and Mexico. Zucker pointed to upcoming regional sporting events, including Saudi Arabia’s hosting of the FIFA World Cup 2034, as potential opportunities. The company is also investing in gaming and immersive entertainment, areas that align with Gulf diversification strategies.

Not everyone is convinced the operational ambitions match the current reality. Amanda Turnbull, founder and CEO of Rise Studios in Dubai and a former general manager for Warner Bros. Discovery across the Middle East, Africa, and Turkey, offered a measured read. “I think that, at the moment, the merger is more of a strategic and capital play, not yet a production play,” she said. She expressed hope that the combined resources could eventually translate into locally based production services and expanded global distribution for regional content.

Zucker confirmed that All3Media maintains a Dubai office and that further expansion in the UAE or broader Gulf region will depend on business needs. He plans to measure the merger’s success over three years across revenue growth, profitability, new formats, and quality productions. “It will be a case of both increasing our bottom line and increasing the number of great shows in our arsenal,” he said.

Whether the production footprint in the Gulf grows to match the capital commitment behind it is the question the next three years will answer.