Banijay rules out Lionsgate takeover, focuses on debt reduction
LION•First-half revenue and EBITDA rise
Banijay reported first-half revenue of 2.58 billion euros ($2.94 billion), up 16.9% on a reported basis, while adjusted EBITDA rose 18.5% to 502.9 million euros.
The company's betting and gaming division remained the main growth driver, with revenue rising 10.5% on a pro forma basis, supported by a 22% increase in active players.
Riahi said the FIFA World Cup had generated record customer acquisition and betting activity, although highly predictable results favoured bettors and hurt margins.
The group reiterated its 2026 targets and said it entered the second half with confidence, expecting continued World Cup-related betting activity, a busier production slate and initial merger synergies to support growth.
($1 = 0.8770 euros)
Debt reduction remains the priority
Riahi said the company was prioritising the integration of recent acquisitions.
The group's balance sheet remained sound and would improve as cash generation increased, Riahi said.
Banijay's net leverage stood at 3.6 times earnings before interest, taxes, depreciation and amortisation (EBITDA) after the All3Media transaction and is expected to fall to 3.4 times by year-end. The company aims to reduce leverage to around two times over the medium term.
Banijay rules out Lionsgate takeover
French entertainment group Banijay on Wednesday ruled out a takeover of Lionsgate Studios, saying it was focused on integrating recent acquisitions and reducing debt.
The denial follows a Reuters report this month that Banijay had been among parties considering a bid for Lionsgate. The group's debt has risen sharply to more than 5 billion euros after a series of acquisitions.
