Banijay Chairman Stéphane Courbit has finally got hold of his prized Endemol, 20 years after becoming Endemol France boss. He has patiently stalked Endemol Shine Group for years, and on Saturday wr…
But the journey has not been without its ups and downs; five years ago, Courbit was forced to repay millions to L’Oreal heiress Liliane Bettencourt after he, along with a slew of other high-profile French execs and politicians, was accused of taking advantage of her to secure investment.Banijay Agrees $2.
“It’s an amazing deal in terms of the price, although it depends on where the debt sits. However, there’s absolutely no way that 1+1=2 and they’ll be lucky if it adds up to 1.7,” added the source. One source told Deadline that there are already nerves about job cuts being voiced internally, and a second person said the mergerThe European executive added that Courbit and his team, including CEO Marco Bassetti are likely to have a plan in mind given how long they have pursued Endemol Shine. But no major announcements are expected before the spring of 2020, as the deal undergoes the antitrust review.
But one person Banijay is keen to keep is Endemol Shine International boss Cathy Payne, two sources told Deadline. Payne announced she was leaving the business ahead of this month’s Mipcom, but is understood to have been asked to stay on in the transition period at least.
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