The merger between Banijay and All3Media, backed by RedBird IMI and led by Jeff Zucker, creates an $8 billion production company with 170 labels worldwide, with the All3Media brand disappearing after 23 years. Marco Bassetti will become CEO of the combined group, while Jane Turton will become his deputy, a move that surprises many given her reputation. The mood differs sharply between the two camps: All3Media employees express concern about cultural differences and potential label closures, while Banijay employees are more optimistic, viewing the merger as a takeover. Bassetti promises to realize the €50 million in synergies exclusively in distribution and back-office, without touching any creative labels, although skeptics question this.