Banijay’s never met a production asset it didn’t want to buy — and now it’s sniffing around ITV like a dog eyeing a juicy steak. Multiple reports confirm that Banijay Group is in early-stage talks to acquire either the whole of ITV or, more surgically, its prized Studios arm. Because if there’s anything better than a reality TV empire, it’s one with an actual TV network attached.
ITV isn’t exactly riding high. Sure, Studios just clocked record profits, delivering £299 million in adjusted EBITA even as free-to-air broadcasters forgot how to spend money. And yes, ITV’s pretax profit more than doubled last year. But traditional broadcasting is going the way of cable TV bundles — bloated, tired, and ignored by anyone under 40.
That’s where Banijay’s cold, calculating charm comes in. They already gobbled up Endemol Shine for $2.2 billion back in 2020, so why not add another 90,000 hours of ITV Studios content to their already obese 195,000-hour library? Imagine a Frankenstein’s monster of unscripted chaos: Big Brother meets Love Island meets Fool Me Once — all on one bloated, ad-supported streamer no one asked for, but everyone secretly watches.
Of course, a full acquisition of ITV wouldn’t be cheap. At a market cap hovering around £3 billion, Banijay would likely need to pass the hat around to third-party investors. Which makes sense, because buying a legacy broadcaster in 2025 is like buying a fax machine in 2010 — a bold move if you can stomach the irony.
Industry whispers also hint that ITV might prefer to unload just the Studios arm — the only part of the business that’s actually growing — and leave the creaky ITVX streamer and fading broadcast channels behind for someone else to euthanize. Smart move. Why drag down a world-class production machine with the dead weight of linear TV?
Meanwhile, RedBird IMI (yes, the same folks who scooped up All3Media) has been loitering around ITV like an overeager suitor at a high school dance. But so far, no one’s put a ring on it.
If Banijay pulls this off, it won’t just double its global footprint — it’ll rewrite the European production playbook. Owning both content and distribution? That’s the dream Netflix sold the world a decade ago. And if Banijay can bundle Peaky Blinders, MasterChef, Love Island, and Mr. Bates vs the Post Office under one roof, it’ll have a juggernaut that even the streamers can’t ignore.
Bottom line: Banijay wants to eat. ITV has the only meal worth serving. Whether they take the whole buffet or just the filet mignon remains to be seen. But make no mistake — the consolidation circus is far from over, and Banijay just grabbed the biggest popcorn bucket in the tent.
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