The Abu Dhabi-backed company that is trying to take over the Telegraph newspapers has announced a £1.15bn deal to buy the production company behind Fleabag and the Traitors.Under the deal, RedBird IMI, which is headed by the former CNN president Jeff Zucker, will take over London-based All3Media with the agreement of its owners Warner Bros, Discovery and Liberty Global.All3Media has 50 different labels and has produced some of the most popular shows of recent years. They include Squid Game: The Challenge, Midsomer Murders, Call the Midwife and Gogglebox.Its subsidiaries are based in the UK, the US, Germany, the Netherlands, Belgium and New Zealand.Zucker said: “All3Media is one of the world’s great content companies, and this gives us an incredible platform to continue to grow our expanding portfolio.“The demand for new shows and ongoing existing series, both scripted and unscripted, makes All3 a perfect fit for us.“We would not be doing this if not for the tremendous confidence we have in the outstanding All3Media management team, led by Jane and Sara.”RedBird IMI is majority owned by the vice-president of the United Arab Emirates, Sheikh Mansour bin Zayed Al Nahyan, a fact that has left ministers concerned about its proposed purchase of the Telegraph Media Group (TMG).The government has ordered an investigation into the deal by the regulators Ofcom and the Competition and Markets Authority, which have until 11 March to report.RedBird IMI and TMG have meanwhile been banned from making any changes to key staff or the structure of the Telegraph business, which also includes the Spectator magazine.The All3Media deal is RedBird IMI’s fifth investment since its launch about a year ago. It has invested in other media companies such as the production firms Media Res and EverWonder Studio, the children’s entertainment company Hidden Pigeon Company and the digital outlet Front Office Sports.
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