RedBird IMI, a joint venture between an Abu Dhabi media company and a New York private equity firm, has completed the acquisition of All3Media, the company behind hit shows including Fleabag, Gogglebox and The Traitors for $1.45 billion.

The latest transaction by the JV of RedBird Capital and Abu Dhabi’s International Media Investments (IMI), is its largest-to-date since it was formed in December 2022. 

The company was bought from joint owners Nasdaq-listed Warner Bros. Discovery, Inc. and Liberty Global Ltd.

The deal has been approved by regulators in the USA, UK and Germany at a price of £1.15 billion ($1.45 billion).

RedBird IMI CEO Jeff Zucker will serve as chairman of the All3Media board and incumbent CEO Jane Turton and COO Sara Geater will continue to lead the company.

London-based All3Media is the UK’s largest independent production company with 50 production labels, including Studio Lambert, Raw, Two Brothers Pictures, Silverback Films, New Pictures and Neal Street Productions across the UK, the USA, Germany, the Netherlands and New Zealand. 

Other shows produced by companies in the All3Media stable include Squid Game: The Challenge, which is based on the hit Netflix drama, Gold Rush, Midsomer Murders, American Nightmare, The Circle andCall the Midwife.

RedBird IMI was previously in talks to buy UK newspaper publisher Telegraph Media Group but walked away from the potential takeover last month. 

(Writing by Imogen Lillywhite; editing by Daniel Luiz)