‘Big Brother’ franchise owner Banijay Group has said it is in talks with All3Media’s parent company about a potential tie-up with the producer of hit TV show ‘The Traitors’, the legacy TV industry’s latest move to compete with streaming giants.

The talks, first reported by Reuters earlier on Tuesday (Jan. 13), have centred on Banijay‘s Entertainment & Live unit, which also owns ‘MasterChef’, and All3Media combining their TV production businesses, according to two sources familiar with the matter.

Banijay, according to a Reuters report from Dubai and London, said on Tuesday it had “entered into discussions with the All3Media owner regarding a potential combination between Banijay and All3Media”, adding that no decision had been taken, and that there was no assurance that a transaction would be concluded.

A merger would create one of Europe’s largest production groups, with a slate of shows including ‘Survivor, ‘Peaky Blinders’ and ‘Race Across the World’. All3Media and its owner RedBird IMI declined to comment.

Both companies have sought potential tie-ups with other producers in recent years, sources have previously told Reuters, as legacy TV and film production firms build scale against the growing dominance of streaming giants Netflix, Disney+ and Amazon Prime Video.

A potential deal would likely include All3Media and owner RedBird IMI injecting funds into the combined entity, as they represent the smaller of the two sides, one of the sources said.

Talks began towards the end of last year after Amsterdam-listed Banijay dropped its pursuit of Britain’s ITV Studios, and are now at an advanced stage, the people said, speaking on condition of anonymity because the matter is private.

The emerging joint entity would have around 5.7 billion euros ($6.65 billion) in revenue based on 2024 numbers published by the companies. Banijay had a market capitalization of 3.42 billion euros as of Monday’s (Jan. 12)close, according to LSEG.

Banijay also has a gaming arm, which acquired Tipico, the leading sports betting and gaming operator in Germany and Austria, at an enterprise value of 4.6 billion euros last year.

Its entertainment and live experience unit generated 2 billion euros in revenue for the first nine months of 2025, compared with 1.1 billion euros in revenue from its gaming division, according to its latest results.