Australian television production house Beyond International, whose stable of content includes MythBusters, is being bought by French company Banijay, said to be the world's largest international content producer and distributor with more than 120 production companies across 22 territories.
Beyond directors told the ASX today that shareholders will receive $0.7744 cash for each share, representing a 57% premium.
A key to the deal is beyond's catalogue of content. Beyond Rights plays home to more than 8,000 hours of IP. From third-party producers and in-house production, its key distributed titles includ Highway Thru Hell, Heavy Rescue: 401, Massive Engineering Mistakes, Halifax: Retribution, MythBusters and Deadly Women.
Mikael Borglund, Beyond CEO, said: “The Beyond board is very supportive of entering into the SID (Scheme Implementation Deed) which would see the company joining the Banijay group, thereby bolstering its standing in an increasingly competitive market.
"This is a very exciting opportunity for the company, and we look forward to collaborating on newfound opportunities with Banijay.
"At the same time, the transaction will allow the existing shareholders of Beyond to realise their investment in the business at a premium to its recent market price “
Banijay CEO Marco Bassetti said: “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.”
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