Mediawan Completes Takeover of 'The Eddy' Producer Lagardere Studios

The Eddy
Courtesy of Berlinale Series

The deal follows Mediawan's acquisition of EuropaCorp's French TV division and further strengthens the company's position as one of Europe's largest TV producers.

French media conglomerate Mediawan got even bigger on Monday, completing its takeover of Lagardère Studios, another major French television group.

Mediawan, which already owns production groups CC & C, AB Groupe, animation house ON Kids & Family, and EuropaCorp's French TV division, signed a deal to buy Lagardère in August. Antitrust officials gave the green light on Sept. 21. On Monday, Mediawan announced that it has completed the deal.

The acquisition gives Mediawan control of Lagardère's 25 production subsidiaries, including Atlantique Production, who co-produced Netflix's The Eddy, documentary specialists Imagissime (Gregory), and non-scripted shingle Maximal Production (C Dans L'Air). Lagardère's distribution business has a catalog of around 10,000 hours of programming which will now be Mediawan's to exploit.

The deal further strengthens Mediawan's position as one of Europe's leading production groups. The company, set up by French media veterans Pierre-Antoine Capton, Xavier Niel, and Matthieu Pigasse as an investment vehicle to acquire European media and entertainment companies, is already France's largest producer of TV content. The Lagardère takeover expands Mediawan's footprint in both France as well as Spain through Lagardère division Grupo Boomerang, the Netherlands (Skyhigh TV), Finland (Aito Media), and Africa (Keewu in Senegal).

"We are particularly proud today to be able to count on the many talents which form Lagardère Studios, and explore with them the many development opportunities which are offered to us everywhere in Europe, in all genres: drama, documentary and unscripted,” said Pierre-Antoine Capton, chairman of Mediawan.

Mediawan issued 1.6 million new shares, with a total value of around $21.5 million at current stock market prices, to bankroll the takeover, with further financing coming via the use of $35 million (€30 million) in undrawn credit facilities, and by use of a $23 million (€20 million) shareholder loan from Mediawan Alliance.