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EXCLUSIVE: All3Media, the British production empire behind The Traitors and Call The Midwife, has got a £90.3M ($119M) cash injection from its new parent company RedBird IMI.
All3Media disclosed the liquidity boost in its first set of earnings since being acquired for £1.15B by RedBird IMI, the Abu Dhabi-backed investment vehicle run by former CNN chief Jeff Zucker.
The financial report, filed at the UK’s Companies House, reveals that the production group’s EBITDA rose 7.2% to a record £107.4M in the year to 31 December, 2023.
All3Media’s revenue stood at £995.2M last year, which was down slightly from the all-time high of just over £1B recorded in 2022, according to the filing.
Deadline revealed in June that All3Media is looking to embark on a spending spree after being sold by Warner Bros. Discovery and Liberty Global.
A cash injection will likely come in handy as All3Media begins examining acquisition targets after a period in which the group has been relatively quiet in the M&A space.
“We are getting to know the new shareholders and presenting them with a full and long-term strategy around the inorganic piece of the business,” said All3Media CEO Jane Turton.
The U.S. is likely to be a particular area of focus. All3Media is heavily dependent on the UK market, where it generates 74% of its £995.2M revenue. Some 12% of sales originate in the U.S., while the remaining 14% come from the rest of the world.
All3Media’s earnings also revealed that the group has a new revolving credit facility of £50M and all of its external borrowings were repaid as part of the RedBird deal. Cash from operations stood at £65.4M last year.
All3Media owns 40 production companies, including Studio Lambert and Neal Street Productions, and made more than 3,600 hours of content in 2023, including 100 returning shows.
