Producer with ‘Call my agent’ backing from KKR acquires German competitor

Mediawan, the KKR-backed French television and film production group known for the popular series “Call my Agent,” has made a significant move in the industry by agreeing to acquire a German rival, Leonine, in a deal valued at about €500 million. This acquisition, which is an all-share deal, highlights the trend of sector consolidation as streaming video platforms continue to drive demand for high-quality content.

The collaboration between KKR and Mediawan, which began with KKR’s investment in Mediawan’s delisting from the Paris market in 2020, has now deepened with this latest acquisition. The CEOs of both companies see this merger as a strategic move, especially with European regulations requiring streaming platforms to invest more in locally produced content.

According to Capton, Mediawan’s CEO, the timing of the merger is crucial as Germany is set to implement regulations similar to those in France, which mandate increased spending on local content by streaming platforms. This partnership with Leonine will enable the companies to develop premium content for streaming platforms like Netflix, Amazon Prime Video, and Disney+.

With this acquisition, Mediawan is poised to become the largest independent content production company in continental Europe, with annual revenues expected to reach about €1.3 billion. The company’s expansion into the US market in 2022, with the acquisition of Brad Pitt’s Plan B Entertainment, further solidifies its position as a major player in the global entertainment industry.

As streaming platforms shift their focus towards profitability, smaller producers are feeling the pressure to align with larger companies to secure commissions. Mediawan’s strategic acquisitions and focus on high-quality content production position it well to navigate the evolving landscape of the entertainment industry.