Britain's All3Media has merged with Paris-based Banijay Entertainment to create an $8 billion television production powerhouse. The combined entity, retaining the Banijay name, will become the world's largest independent TV maker with more than 170 production companies distributing content across nearly 250 countries.

Abu Dhabi-backed RedBird IMI, which owns All3Media, will partner equally with Banijay in the new business. The French group will receive €796 million to reflect its larger size. The merger brings together hit shows like Peaky Blinders, The Traitors, MasterChef, and Fleabag under one roof, creating a formidable force in global entertainment production.

The combined business is expected to generate €4.4 billion in annual revenues and over €690 million in earnings. Marco Bassetti will lead the merged group while Jane Turton becomes deputy CEO. The deal positions the new entity to benefit from an increasingly consolidated entertainment market, with major US streaming and media groups among its largest content buyers.