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16.06.2023 - 02:34 / deadline.com
Banijay has moved into the live events space by acquiring a majority stake in the company that claims to have “organized the highest number of Olympic Games ceremonies.”
The acquisition of Balich Wonder Studio will lead to a “differentiated offering in the media and entertainment space,” according to Peaky Blinders and Big Brother outfit Banijay. Financials were not disclosed but Banijay has taken a majority stake in the company that posted €315M ($340M) revenues in its latest full-year results.
The Italy-headquartered outfit was founded a decade ago and claims to have organized the highest number of Olympic ceremonies along with the latest World Cup, Pan American Games ceremonies in Perù 2019 and Chile 2023, 2014 Sochi Olympic Games closing and Paralympic Games ceremonies.
The company has offices in Europe and the Middle East and has also delivered events for brands including Ferrari, Dolce & Gabbana and Formula 1.
Banijay CEO Marco Bassetti said there is “huge potential for further pioneering growth.”
“In marrying our businesses, we will create a unique universe of globally-spanning premium content, and the world’s most-watched ceremonies and illustrious events – ultimately, a one-stop-shop for creativity,” he added.
Balich Chairman Marco Balich said the pair “share the passion for creativity, the ability to create exceptional content and spread emotions, culture and beauty as pillars for a better world.”
The acquisition remains subject to customary closing conditions and is anticipated to close in the coming months.
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Elsa Keslassy International Correspondent Francois de Brugada, the long-running boss of Banijay France, will be stepping down in September to lead FL Entertainment’s newly created division dedicated to live events. Named Banijay Events, the division will build on Banijay’s parent company FL Entertainment’s recent investment in The Independents, a global marketing and communications group for luxury and lifestyle brands, as well as Banijay’s acquisition of Balich Wonder Studio, the Italian entertainment group. FL Entertainment said Banijay will be able to seize opportunities within the live event industry as it “remains largely unconsolidated and has a business model very similar to that of content production and distribution.” Banijay reached €3.2 billion ($3.5 billion) in revenues for 2022.
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Nick Vivarelli International Correspondent Milan-based events creator Marco Balich has choreographed and produced a record-breaking 14 Olympic ceremonies, including for the 2006, 2014, 2016 and 2020 Olympics respectively held in Turin, Sochi, Rio de Janeiro and Tokyo. More recently, Balich and his team created the spectacular ceremony for the 2022 Qatar FIFA World Cup for which he liaised directly with Qatar’s ruling emir, Sheikh Tamim bin Hamad Al Thani. His Balich Wonder Studio has now partnered with global content giant Banijay, which has taken a 51% stake in the outfit he created in 2013.
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Naman Ramachandran Banijay has signed an agreement to acquire a majority stake in live entertainment player Balich Wonder Studio. Founded in 2013, Milan-based Balich is credited for the organization of the highest number of Olympic Games Ceremonies in the world and other events including the 2022 Qatar FIFA World Cup; Pan American Games ceremonies in Perù 2019 and Chile 2023; 2016 Rio Olympic Games ceremonies; and 2014 Sochi Olympic Games closing and Paralympic Games ceremonies. It has also delivered a range of exclusive events for top brands including Louis Vuitton, Formula 1, Ferrari, Dolce & Gabbana, UEFA, MSC, Maserati, Bulgari, IWC, Azimut Benetti and many others.