Banijay secures €365m as Survivor deal nears

Banijay Group has raised €365 million (US$416 million), which will be used in part to fund its takeover of Survivor owner Castaway Television.

The cash injection will also be used to service debts accrued in its merger with Zodiak Media last year.

Nataxis, Société Générale and Credit Suisse lead the bond issue transaction, which Banijay said was “highly successful, generating a high level of interest from European and French investors, and was largely oversubscribed.

Variety first reported news of the bond issue yesterday.

TBI first revealed Banijay was buying Castaway from owners Charlie Parsons, Waheed Alli and Bob Geldof earlier this year.

The deal means Banijay Rights will be selling the famed reality format Survivor at MIPCOM, once the deal closes.

Parsons created Survivor (pictured) in 1997, with the likes of CBS and ITV going on to acquire and produce it locally.

Banijay is controlled by Stephane Courbit’s LOV Group, with Italy’s De Agostini and French conglom Vivendi also shareholders following the Banijay-Zodiak deal.

According to a statement, Banijay generated pro forma revenues of €776.6 million on earnings before interest, tax, depreciation and amortisation of €105.1 million.

Key company programmes include Keeping Up with the Kardashians, 71 Degrees North, Fort Boyard and Versailles.