Banijay, a global content production house headquartered in France, is going public.
The company, which is behind shows such as “Survivor,” “The Kardashians,” “Black Mirror” and “MasterChef,” will merge in a special purpose acquisition company (SPAC) deal backed by billionaires Bernard Arnault and Vincent Bolloré, according to the Financial Times.
Per Reuters, the deal is reportedly worth upwards of $4 billion.
The deal establishes new company FL Entertainment, with a value of about $7 billion, a figure that includes debt. It totals out to nearly $4 billion in equity value, according to executive Francois Riahi.
The new company will also include Betclic, an online gambling company.
Banijay acquired Endemol Shine in for $2.2 billion in 2019.
According to reports, current investors in Banijay and Betclic, which include Vivendi, will reinvest in the new company.