France's Mediawan weighs takeover of KKR-backed Leonine –sources
LONDON/PARIS, Nov 28 (Reuters) - Shareholders of French TV production group Mediawan are weighing a takeover of Germany's KKR-backed Leonine Studios, three people familiar with the matter told Reuters, in a deal that could value the combined entity at up to 3 billion euros ($3.3 billion).
The tie-up is among strategic options being discussed by Mediawan's advisers and shareholders as the Paris-based company, known for the TV series "Call my Agent!", assesses its next phase of expansion, the people said.
A tie-up with Leonine would help Mediawan keep pace with bigger rival Banijay, Europe's biggest independent TV production group.
Banijay's listed parent company, FL Entertainment (FLE.AS), is valued at 3.68 billion euros.
The merger would come amid renewed deal activity in the media sector.
France's Federation Studios is in talks with possible advisers to help it explore strategic options, Reuters reported earlier this month, while Britain's All3Media is in the process of finding a buyer.
A sale process for Spanish broadcasting and sports rights group Mediapro is also underway, according to Reuters.
Led by Fred Kogel, Munich-based Leonine was formed in 2019 through the merger of several German media production and distribution companies, such as Tele München Group, Universum Film, i&u TV and Wiedemann & Berg Film.