All3Media CEO Jane Turton Discusses What Drove RedBird IMI in Its $1.45 Billion Purchase of TV Giant: ‘Opportunity for Growth,’ Scale and Portfolio
variety.comElsa Keslassy International Correspondent In one of the most anticipated keynotes held at the 40th edition of Mipcom in Cannes, All3Media CEO Jane Turton discussed what drove Jeff Zucker and Gerry Cardinale’s RedBird IMI in its $1.45 billion purchase of the TV production powerhouse behind “The Traitors.” “I think it’s definitely the IP.
People want to see growth,” Turton said at a fireside conversation with Variety’s co-editor-in-chief Cynthia Littleton at Mipcom in Cannes on Oct.
21. “They want to see something that’s been consistently growing, that the management team understands margins and all of those things.
And then I think the range, the scale, the portfolio, that breadth, it was appealing.” Turton suggested RedBird IMI also saw an “opportunity for growth” with All3Media. “Because if you think about it, you don’t buy something to watch it plateau or worse…” The executive, who became CEO of All3Media in 2015 and grew its portfolio from 19 to 40 production labels, admitted that the sales process had been “exhausting.” “It’s a lot nicer being out of the process.
Read more on variety.com