Banijay Confirms Proposed Acquisition of Beyond International LimitedLeave a Comment
Banijay today announces it has entered into a Scheme Implementation Deed (Scheme) to acquire Beyond International Limited (ASX: BYI) (Beyond), a scripted and non-scripted multi-territory content group. Beyond has been listed on the Australian Securities Exchange since 1987, but once the Scheme is implemented it will become a wholly owned subsidiary of Banijay and its shares will cease to be publicly traded.
Complimenting Banijay’s existing catalogue of over 130,000 hours, Beyond Rights plays home to more than 8,000 hours of IP. From third-party producers and in-house production, its key distributed titles include, but are not limited to, Highway Thru Hell, Heavy Rescue: 401, Massive Engineering Mistakes, Halifax: Retribution, MythBusters and Deadly Women.
Elsewhere, with a track record of production in English-language markets, Beyond Productions’ latest titles include recently announced Back in the Groove, a new dating series for Hulu, produced in partnership with Walt Disney Television Alternative; multi-territory franchise, Love It or List It Australia; the 8-part scripted series Troppo (co-produced with EQ Media) screening on Freevee USA and ABC Australia; and a number of yet-to-be-announced new series in production across a number of markets.
Beyond International Limited’s Managing Director and CEO, Mikael Borglund, remains in his current role.
Marco Bassetti, CEO, Banijay comments: “As content demand continues to soar, catalogue remains key, and in acquiring Beyond, we would take our offering up considerably. Primarily bolstering our IP and production portfolio in the English-language and factual space, with Beyond’s complementary content, the deal can enhance our position as a leading go-to for clients and commercial partners alike.”
Mikael Borglund, Managing Director and CEO, Beyond International Limited comments: “The Beyond Board is very much supportive of the deal, which will see us join Banijay’s group, bolstering its standing in what is an increasingly competitive market. Joining a leading global business like this is a very exciting opportunity for us and we look forward to collaborating on newfound opportunities ahead.”
The acquisition would see Banijay take full control of the Beyond International Limited group of companies and departments, with all elements of the business boarding the former’s own production and distribution footprint.
The implementation of the Scheme remains subject to certain conditions including Beyond shareholders’ approval, court approval and other customary closing conditions. It is hoped the deal will close at the end of 2022/beginning of 2023.
Banijay, with Betclic Everest Group, forms FL Entertainment, which, in July 2022 was listed on Euronext Amsterdam (ISIN: NL0015000X07 – Bloomberg: FLE NA – Reuters: FLE.AS).
Banijay is being advised on the transaction by Corrs Chambers Westgarth.