Mediawan to buy Leonine as KKR-backed companies combine

Call My Agent!

French group Mediawan is to acquire a majority stake in Leonine Studios, the German producer and distributor launched by Fred Kogel in 2019.

The deal will see Mediawan and Leonine, which are both backed by US-based private equity firm KKR, combining forces to create a company that will have operations across 13 countries with 85 labels and a catalogue of around 30,000 hours of content.

Combined revenues will exceed €1bn ($1.07bn) with the all-stock transaction, which remains subject to regulatory clearances, building on the 2020 deal that saw Mediawan acquire a 25% stake in the German firm.

One Day (Source: Netflix)

Call My Agent firm Mediawan said the deal would allow it to “foster even closer collaboration between the businesses”, while diversifying operations across geographies, customers and business segments.

Leonine holds rights to more than 4,000 titles, while its scripted business will fall under the remit of Elisabeth d’Arvieu, CEO of Mediawan Pictures.

The German firm was founded five years ago when Kogel linked with KKR and fellow private equity firm Atwater Capital to acquire and merge TMG, Universum Film, i&u TV and Wiedemann & Berg Film, followed by W&B Television, SEO Entertainment, hyperbole, BeetzBros Film Production and Toon2Tango.

Its slate includes The Lives Of Others, School of Magical Animals, Dark, The Gryphon, Crooks, Juan Carlos – Downfall of The King and The Cleaners, while it holds rights to shows such as the John Wick franchise, Hunger Games – The Ballad Of Songbirds and Knives Out.

Mediawan, founded as a fast-growth vehicle in 2015, has been behind shows ranging from aforementioned Call My Agent to Miraculous Ladybug, Rhythm and Flow France, Three Body Problem and One Day.

Doctor Foster

Over recent years it has acquired Doctor Foster firm Drama Republic and Lagardere Studios, having already taken ownership of firms such as Storia Television, Makever and Mon Voisin Productions in 2018 and AB Groupe.

Philipp Freise, co-head of European private equity at KKR, said the deal “follow a long history of investing behind exceptional entrepreneurs in talent – and IP – centred businesses. We look forward to continuing to work closely with Pierre-Antoine Capton and Fred Kogel as Mediawan enters the next phase in its impressive growth trajectory.”

Capton remains Mediawan CEO, with Kogel leading operations in the German-speaking regions alongside the existing Leonine management team. The French group remains controlled by co-founders Capton, Xavier Niel and Matthieu Pigasse, with financial backing from KKR and others.

Capton said that the addition of Leonine Studios marked “an important milestone” in his company’s pan-European studio strategy, while Kogel added that the deal would “bring exciting benefits”.