The Abu Dhabi-backed company that is trying to take over the Telegraph newspapers has announced a £1.15bn deal to buy the production company behind Fleabag and the Traitors.
RedBird IMI, led by former CNN president Jeff Zucker, will acquire London-based All3Media with the approval of its current owners Warner Bros, Discovery, and Liberty Global.
All3Media has 50 different labels and has produced some of the most popular shows of recent years. They include Squid Game: The Challenge, Midsomer Murders, Call the Midwife and Gogglebox.
The UK, US, Germany, the Netherlands, Belgium, and New Zealand are where its affiliated companies are located.
Zucker stated that All3Media is a highly esteemed company in the field of content, providing an exceptional opportunity for further growth of our expanding portfolio.
All3 is an ideal match for us due to the high demand for both new and ongoing scripted and unscripted series.
“We are able to do this because we have great trust in the exceptional All3Media management team, headed by Jane and Sara.”
The Telegraph Media Group’s (TMG) potential acquisition by RedBird IMI, a company primarily owned by Sheikh Mansour bin Zayed Al Nahyan, the vice-president of the United Arab Emirates, has raised concerns among ministers.
The government has instructed Ofcom and the Competition and Markets Authority to conduct an inquiry into the agreement. The report is due on 11 March.
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RedBird IMI and TMG are currently prohibited from altering important personnel or the framework of the Telegraph company, which encompasses the Spectator magazine as well.
RedBird IMI has made its fifth investment in the All3Media deal, which occurred approximately one year after its launch. It has also invested in other media-related businesses, including production companies like Media Res and EverWonder Studio, as well as the children’s entertainment company Hidden Pigeon Company and the digital platform Front Office Sports.
Source: theguardian.com
